US policy continues to pay great attention to digital assets. If the attention of most public opinion and institutions focuses in particular on Pound and Bitcoin, with feelings often unfavorable to the sector, some sectors evidently better disposed towards innovation try instead to understand if virtual currencies can represent an advantage for the economy and finance. Among them there is also Tom Emmer, deputy of the House of Representatives who had already made himself known in July, when he had proposed "Safe Harbor for Taxpayers with Forked Assets", a bill aimed at promoting the growth of the blockchain sector in the United States trying to facilitate the relationship between companies operating in the sector and often unclear legislation. The intent that had moved him at the time was to reduce companies' difficulties stating that it was time to mitigate their need to fully understand all tax laws, as the complexity of the legislation could mislead entrepreneurs.
The law proposed by Emmer
An approach that Emmer himself has also placed at the base of his new bill, announced October 24 and whose purpose is essentially one clarification of the regulatory framework in which US companies operating in the field of digital assets and emerging technologies are called to invest.
In practice, its new bill would allow companies that are already operating in compliance with the laws on shares, or those that have already acquired an exemption from such regulations, of distribute your virtual currencies without having to submit to further regulations.
It was a tweet to reveal it Weiss Crypto Ratings, according to which the measure, once approved, would protect companies complying with the requirements imposed by the United States Securities and Exchange Commission (SEC) against some of the coercive measures provided by the same regulatory body from a legal point of view .
A special moment
The proposal in question arrives at a very special moment for the United States, engaged in the attempt to embank Libra. The digital currency of Facebook is encountering an increasingly remarkable resistance from a large part of the political and institutional world of stars and stripes. An opposition that is based on two very specific fears: the fact that it can deliver further power to a company that in the past has shown little scruples in moving even in violation of existing laws and that the creation of Zuckerberg can go to conflict with the imperial power of the dollar. Fears that have been expressed by several parties and that have never been dissolved by Menlo Park which, indeed, with the obvious ambitions explicitly stated in the publication of the Whitepaper Libra has widened the already existing furrow with the policy following the Cambridge Analytica scandal. Precisely this aversion, however, could paradoxically facilitate the task of other subjects seen as less problematic, operating in the digital asset sector. The path of Emmer's bill could consequently prove to be much easier than expected.