US Representative Introduces Bill Seeking Safe Harbor For Blockchain Service Providers – BlockPublisher

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Tom Emmer, a U.S. Representative, wants the States to provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain services.

This was the title of a resolution presented by Tom 2 days ago in the House.

What it would do for blockchain is that it would allow companies which rely on cryptocurrency trade but do not hold user assets to be exempt from money transmission laws [if passed].

Representative Darren Soto, a Democrat, is the cosponsor of this resolution.

The bill has since been referred to House Financial Services for further scrutiny.

The Representative has a history of blockchain-related bill introductions. In September last year, Tom announced the introduction of three bills that would tackle a range of issues around the blockchain space, its development, cryptocurrency mining and related taxes.

1.Resolution Supporting Digital Currencies and Blockchain Technology
2.Blockchain Regulatory Certainty Act
3.Safe Harbor for Taxpayers with Forked Assets Act

These too, like the one presented two days ago, were forwarded to the Financial services for further scrutiny.

Tom has been very vocal about the financial revolution on-hand by blockchain. In his own words:

‘Blockchain is a disruptive technology that  will change the way we do business in almost every sector. As the incoming Democratic co-chair of the Blockchain Caucus, I am proud to join my colleagues to lead Congress so that policymakers and industry can work together to realize this promise and unleash its economic potential in the United States and around the world,’

Photo by Álvaro Serrano on Unsplash