Proposed US Law Calls For Five-Year Moratorium on Bitcoin Regulation

Proposed US Law Calls For Five-Year Moratorium on Bitcoin Regulation

HR 5777, a new bill submitted to Congress by US Representative Steve Stockman (R-TX), calls for a five-year moratorium on digital currency regulation within the US. The bill, titled the Cryptocurrency Protocol Protection and Moratorium Act, would hold off any "statutory restrictions or regulations" for the five-year period after 15th June 2015. The bill was submitted on 1st December and has since been referred to both the House Committee on Ways and Means and the House Committee on Financial Services. The draft law also calls for virtual currencies to be classified as traditional....


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HR 5777 Bill Proposes Moratorium on Bitcoin Regulations or Restrictions

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....

Climate Change Targets Bitcoin Mining: NY Lawmaker Proposes 3-Year Moratorium...

U.S. bureaucrats, particularly Democrats, are concerned about climate change and have introduced lots of legislation in order to address these concerns. Now a lawmaker from New York wants to establish a moratorium for bitcoin mining facilities located in the state, which means cryptocurrency miners in New York would have to halt operations. Senator Kevin Parker (D) believes bitcoin mining has a negative environmental impact and businesses would have to pass state greenhouse gas emission targets in order to continue. New York Lawmaker Proposes a 3-Year Halt on Crypto Mining Operations....

Balancing Calls For Bitcoin Regulation While Preserving Satoshi’s Dream

As bitcoin continues to garner attention from investors and regulators alike, inevitable regulation should be focused on helping the former. The post Balancing Calls For Bitcoin Regulation While Preserving Satoshi’s Dream appeared first on Bitcoin Magazine.

Ethereum DAO Critics Call for a Moratorium

The Distributed Autonomous Organization (DAO), a smart contract on the Ethereum blockchain that has raised 11.5 million Ether, has some design issues that could cause investors to act in ways that could undermine the project. Three individuals, Dino Mark, Vlad Zamfir and Emin Gun Sirer, have called for a moratorium on proposals to prevent losses to the DAO. The DAO is the largest crowdfunding event in history. A white paper analyzes the rules of the DAO and examines problems in its design that could motivate investors to act strategically, meaning in opposition to truthful voting to reveal....

In-Depth: The State of Cryptocurrency in New York

As many may already be aware, July 17, 2014, the New York Department of Financial Services (NYDFS) issued its proposal for the regulation of virtual currencies (Proposed Regulations).¹. At this point, the Proposed Regulations are exactly that - a proposal. There is a 45-day period of public comment, after which the NYDFS may or may not consider the comments it receives. Then, with any revisions that NYDFS deems necessary, the Proposed Regulations will become final and official. Understandably, there has been quite an uproar about the Proposed Regulations among the virtual currency world,....