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....

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