Texas Congressman Steve Stockman Introduces HR 5777: "To Protect Cryptocurrencies"
Yesterday, Texas Congressman Steve Stockman introduced a new House Resolution (HR 5777) entitled: "To protect cryptocurrencies." Congressman Steve Stockman is a Republican, from Texas's 36th Congressional district, who has become one of cryptocurrency's most ardent supporters in politics. Back in May, Stockman introduced HR 4602: Virtual Currency Tax Reform Act after the IRS revealed its virtual currency guidance for taxation. Texas has established itself as one of the most friendly states towards Bitcoin and cryptocurrencies. Also read: Texan Congressman to Introduce Virtual Currency Tax....
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Harborly. Harborly, a service that lets customers buy and sell bitcoins using their local currency, has decided to base its U. S. headquarters in Texas due to the state's favorable environment for Bitcoin companies. Also read: Texas Congressman Steve Stockman Introduces HR 5777: "To Protect Cryptocurrencies". Texas Has a Favorable Regulatory Environment for Bitcoin Companies. Choosing a national headquarters is a major decision for a startup. The company must consider a variety of factors, including investor networks and the regulatory environment. This decision can be especially difficult....
Congressman Steve Stockman. US Representative, Steve Stockman (R-TX) has submitted a new bill that proposes a five-year moratorium on digital currency regulation. The HR 5777 bill, (download the text here) or in full the Cryptocurrency Protocol Protection and Moratorium Act, seeks to hold off any "statutory restrictions or regulations" on digital currencies such as bitcoin for "the five-year period after June 15th, 2015." The bill was tabled on December 1st and was thereafter referred to two House committees, the Ways and Means; and the Financial Services committees. HR 5777 calls for....
United States Representative Steve Stockman (R-Texas) kept his promise and recently introduced a bill in Congress that would not only extend substantial protections to cryptocurrencies, but would also require that cryptocurrencies be classified as a “currency.” The bill, entitled the Cryptocurrency Protocol Protection and Moratorium Act (CryptPMA), begins by placing a five-year moratorium on any new legislation concerning cryptocurrencies. Stockman has supported virtual currencies for a long time. In 2013, he was interviewed by Nick Spanos, founder of the Bitcoin Center in New York City,....
California state officials are considering the creation of a set of regulations that would seek to inform consumers of the risks associated with using virtual currencies while simultaneously creating safeguards against said risks. The Department of Business Oversight claims that the state's money transmitter laws, which are currently used to regulate business such as Western Union, are applicable to Bitcoin. Speaking with Bloomberg, California Department of Business Oversight spokesperson Tom Dresslar said: The consensus among staff is that the department and commissioner could regulate....
Where there's a politician, there's a request for a donation. It's no different with Steve Stockman - Representative of the 36th congressional district in the state of Texas. Stockman now has a donation page up on his website allowing users to submit funds via a connection with digital payments processor BitPay for his run for United States Senate. This is not Stockman's first run-in with bitcoin. He was seen at a New Year's Eve party at 'The Bitcoin Center' in Manhattan's financial district holding up a QR code with a donation address. Could this be the start of a new thing in the....