Two new bills on cryptocurrency market manipulation are aimed at "positioning the United States as a leader in the cryptocurrency industry," their sponsors said on December 6.
The bills, called the "The Virtual Currency Concumer Protection Act of 2018" and "The U.S. Virtual Currency Market and Regulatory Competitiveness of 2018", will be published soon.
Darren Soto and Ted Budd Party congressmen said they want to "provide information about how Congress can best mitigate risks by promoting development that will benefit our economy."
"Virtual currencies and the basic blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details technology have enormous potential to become the driving force of economic growth", the joint statement said.
"That's why we have to take bills to improve the rules of the cryptocurrency market and bring to the forefront the US consumer protection and financial welfare of investors in virtual currency, and also helped create an innovative environment to maximize the potential of these technological advances."
Cryptocurrency exchanges have taken concrete actions to protect themselves from exposure by organizing offshore operations.
Darren Soto and Ted Budd seek to broaden the base of domestic regulation, going beyond the borders, their second bill on "comparative study of the regulationof virtual currency in other countries" to "make recommendations for regulatory changes to promote competitiveness."
Editor: Yulia Krasnaya