US legislation is finally nodding for Blockchain and the same is going to reflect through three bills. The three bills are the “Resolution Supporting Digital Currencies and Blockchain Technology,” the “Blockchain Regulatory Certainty Act,” and the “Safe Harbor for Taxpayers with Forked Assets Act.”
U.S. Rep. Tom Emmer (R-MN) is going to propose three bills. The aim is to give less pain to taxpayers through Blockchain. The technology will facilitate the payers to pay through “forked” digital assets. The bills will protect the digital asset holders and aspirers from the government. It will prompt the government to follow light regulations on someone showing “forked” digital assets. Also, by the virtue of this policy, the government will provide breathable legal air to companies and individuals who like to practice crypto business. The soft policy of the government to continue until Internal Revenue Service (IRS) amends regulations to report “forked” assets legally.
Emmer also stated on how the bill will provide the right to vote to taxpayers. He said that the law formed by IRS will be accepted only when the taxpayers feel it is transparent to them fully. U.S. Congressmen have formed a Caucus for Blockchain technology. They want the technology to evolve on its own terms like the internet did two decades ago.