Switzerland and US submit bills that could effect blockchain technologies for the better!
Hello steemers. Whether your in the US or abroad your probably seeing how each country treats blockchain technologies. Recently a Miami judge in the US dismissed felony charges including money laundering against Michell Espinoza . Claiming that, "This court is not an expert in economics, however, it is very clear, even to someone with limited knowledge in the area, that bitcoin has a long way to go before it is the equivalent of money". Creating a further discussion on whether Bitcoin is a currency or a commodity (CNBC).
While this is a hot item of discussion, eventually leading on how finance and tax laws should impact the technologies. I wanted to point out legislation you might not of heard about.
On June 15th 2016 the Swiss Parliament announced the official deregulation of blockhains! Exempting cryptocurrencies from the current regulation. We'll know if the motion gains further momentum or is debated further in the Fall of 2016.
As for the US. Some are aware of the crypto-licence being needed in New York for operating on exchange and how the IRS has describe cryptocurrency as a commodity. You might be pleased or surprised to hear about US Resolution - HR835 which aims to promote the usage of blockchain technologies.
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RESOLUTION
Expressing the sense of the House of Representatives that
the United States should adopt a national policy for
technology to promote consumers’ access to financial
tools and online commerce to promote economic growth
and consumer empowerment.
Whereas technology solutions have the potential to improve
consumers’ ability to control their economic well-being, to
encourage their financial literacy, and improve their
knowledge base and increase their options to manage
their finances and engage in commerce;
Whereas new payment methods and new payment strategies
reflect new commercial opportunities;
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•HRES 835 IH
Whereas the United States is the world leader in software development
and technology creation;
Whereas financial technology is creating new opportunities
for the 24,800,000 underbanked households in the
United States;
Whereas the growth of consumers’ use of mobile devices and
the deployment of broadband access has supported the
growth of financial technology products and services outside
of traditional products and services offered by banks
and other financial institutions in the United States increasing
commerce and job growth;
Whereas identity theft is a rising concern for people in the
United States as their personal information is targeted
by criminal enterprises for monetization on the black
market;
Whereas cyberattacks against domestic and international financial
institutions and cooperatives continue;
Whereas emerging payment options, including alternative
non-fiat currencies, are leveraging technology to improve
security through increased transparency and verifiable
trust mechanisms to supplant decades old payment technology
deployed by traditional financial institutions; and
Whereas blockchain technology with the appropriate protections
has the potential to fundamentally change the manner
in which trust and security are established in online
transactions through various potential applications in sectors
including financial services, payments, health care,
energy, property management, and intellectual property
management: Now, therefore, be it
1 Resolved, That it is the sense of the House of Rep-
2 resentatives that—
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•HRES 835 IH
1 (1) the United States should develop a national
2 policy to encourage the development of tools for con-
3 sumers to learn and protect their assets in a way
4 that maximizes the promise customized, connected
5 devices hold to empower consumers, foster future
6 economic growth, create new commerce and new
7 markets;
8 (2) the United States should prioritize accel-
9 erating the development of alternative technologies
10 that support transparency, security, and authentica-
11 tion in a way that recognizes their benefits, allows
12 for future innovation, and responsibly protects con-
13 sumers’ personal information;
14 (3) the United States should recognize that
15 technology experts can play an important role in the
16 future development of consumer-facing technology
17 applications for manufacturing, automobiles, tele-
18 communications, tourism, health care, energy, and
19 general commerce;
20 (4) the United States should support further in-
21 novation, and economic growth, and ensure cyberse-
22 curity, and the protection of consumer privacy; and
23 (5) innovators in technology, manufacturing,
24 automobiles, telecommunications, tourism, health
25 care, and energy industries should commit to imVerDate
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•HRES 835 IH
1 proving the quality of life for future generations by
2 developing safe and consumer protective, new tech-
3 nology aimed at improving consumers’ access to
4 commerce.
"
Although the resolution is rather short. It does present that mindset of blockchain adoption. I look forward to each countries involvement with it and less requirement for unwarranted licences or restrictions to use such technologies.
Steem on!
