The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

US Lawmaker Crafting Bill to Boost Crypto Companies, Prevent SEC Overreach

by Daily Hodl Staff
October 31, 2019
in Regulators

US Representative Tom Emmer says he’s writing a bill designed to give crypto companies in the US regulatory certainty.

The Republican from Minnesota first announced the bill while questioning Facebook CEO Mark Zuckerberg on October 23rd at a hearing on the company’s digital asset Libra.

Emmer called out fellow lawmakers whom he says appear to have little understanding of blockchain technology. He says it’s paramount that entrepreneurs have assurances that they won’t be wrongly targeted if they follow the rules.

“I think I can safely say that this is at least the second time you’ve testified before Congress where members end up looking like they have invested absolutely no time learning about new technologies in order to responsibly question tech companies. I think that’s a fair takeaway from this hearing. Congress is nowhere close to catching up with some of the most basic changes happening in our society…

Mr. Zuckerberg, I have serious concerns about the structure of Libra and its establishment outside the US. I also think it’s incredibly important to distinguish Libra from cryptocurrency and truly decentralized, open public networks. But what I’m most concerned about is Congress and American regulators.

Unfortunately, my colleagues have offered several proposals in conjunction with this hearing that could have a tremendously harmful impact on innovation in the United States. A few of these provisions appear to apply securities regulation beyond actual securities.

As Co-Chair of the Blockchain Caucus, I frequently meet with entrepreneurs who try to follow the rules and never receive a clear answer from regulators that what they’re doing is legal. It has not been clear whether innovators who play by the rules of the road will ever receive the assurances that the US government will not come after them.

Clarity is incredibly necessary in securities law. We can support open, public networks and we can do so in a non-partisan fashion. That’s why I intend to introduce a bill that will make it clear that as long as you register as a security or comply with an exemption under existing law, you will not continue to have prosecution from a regulator hang over your head when that asset is publicly distributed and in fact is a commodity.”

On his website, Emmer released a short statement announcing the new bill, saying he plans to introduce legislation that will offer clear regulatory rules for digital assets and blockchain technology under securities law.

Says Emmer,

“Companies that have followed our current rules of the road, even if convoluted, deserve the certainty that they can offer their digital asset to the public and help contribute to a truly decentralized network. I am hopeful this non-partisan legislation will receive strong support and help ensure investment in the United States for these extraordinary technologies.”

In September, the longtime advocate of fintech introduced three bills to protect blockchain developers, cryptocurrency miners and investors who hold cryptocurrencies.

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$43,278.60
$43,278.60
1.79%
Ethereum
$2,326.87
$2,326.87
2.41%
Cardano
$0.452967
$0.452967
1.3%
XRP
$0.640459
$0.640459
2.14%
Dogecoin
$0.096234
$0.096234
3.9%

Spotlight

  • Arthur Hayes Says Capital About To Flood Into Bitcoin (BTC) From China – Here’s Why
    November 30, 2023
  • Chainlink Flashing Bullish Signal As Massive Amount of Dormant LINK Abruptly Moves, According to Santiment
    November 30, 2023
  • Bitcoin Setting Up for One More Rally To Bait BTC Bulls, According to Crypto Analyst – Here’s His Outlook
    November 30, 2023
  • Circle’s USDC Expands to Cosmos Through New Cross-Chain Transfer Protocol
    November 30, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl