Blockchain Caucus Co-Chair: Government Needs The Ability To Reverse Transactions
As blockchain technology becomes more applicable to business and its uses continue to grow, investors are curious as to how the US will regulate crypto. Influential figures at the highest levels of the United States government are finally beginning to discuss cryptocurrencies, blockchain tech, digital assets, and how to regulate and tax those assets. On […]
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Democratic Representative Bill Foster has called for legal power to identify wallet holders and reverse crypto transactions in instances of criminal behavior such as ransomware attacks. Bill Foster, Democratic Representative and co-chair of the Congressional blockchain caucus, has called for a regulatory framework that would enable third parties to reverse fraudulent or criminal transactions. Foster is a physicist and a Democratic Rep for Illinois. The blockchain caucus is co-chaired by Democratic Rep Darren Soto, and Republican Reps Tom Emmer and David Schweikert. Speaking during an....
Working towards common policy goals will be priority number one where Bitcoin and blockchain are concerned. Getting US Congress to think along the right lines for Bitcoin and blockchain regulation is not an easy feat. Thankfully, there are initiatives such as CoinCenter, which aim to bridge the gap between disruption and government. A bipartisan Blockchain Caucus has been formed, which should help establish a sound policy towards blockchain and cryptocurrency in the US. On paper, the creation of a caucus dedicated to blockchain and cryptocurrency development is a great victory. For quite....
What is constantly an issue, both now and in the future, is the concept of regulating and understanding blockchain and digital currency technology at a government level. The U.S. Government is taking steps to better understand this industry with their new Congressional Blockchain Caucus. Blockchain Caucus Will Educate Lawmakers. Spearheaded by Rep. Jared Polis (D-Colo.) and David Schweikert (R-Ariz.), this will create a soundboard for future policy creation dealing with blockchain technology and the growing world of digital currency. The term caucus might imply that this might be a one-off....
On Thursday, November 12, 2020, the blockchain firm Kirobo launched a tool that allows users to reverse ethereum transactions. Similarly to the replace-by-fee (RBF) protocol leveraged by bitcoin users, ethereum transactions can be reversed as well with Kirobo’s “Undo Button” supported by Metamask or any wallet that supports walletconnect. The two top blockchain assets, in terms of market capitalization, have features that allow users to reverse transactions they sent if the fee was too low or for other reasons. For years now crypto proponents using the Bitcoin (BTC)....
A section of US Democrat and Republican congressmen now agree to something about cryptocurrencies: the need for them, as lawmakers, to know more about what it is. According to U.S. Rep. Mick Mulvaney, most of the lawmakers do not know the difference between bitcoin and the blockchain technology hence the formation of the bipartisan Blockchain Caucus last month to help their colleagues stay up to speed on evolving digital currency and blockchain technologies, and develop policies that advance them. “…we really started this caucus as a sort of way to introduce our colleagues and their staff....