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Senator to file US cryptocurrency bill

Senator to file US cryptocurrency bill

U.S. Senator Cynthia Loomis announced Thursday (23) that she is preparing a bill on cryptocurrencies to be discussed in 2022, one of the only policies publicly holding Bitcoin in the United States.

Among the main reasons, greater regulatory clarification by the state allows entrepreneurs to know their limits and, at the same time, create greater legal support for consumers of these assets and services.

As the United States is one of the largest economic powers in the world, this kind of dialogue and transparency regarding cryptocurrencies such as Bitcoin, like the United States today, can be a good visual object for other countries that do not know how to proceed.

Bitcoin Bill

Senator Lumis’ proposal aims to provide more regulatory clarity on cryptocurrencies. It allows companies to know what they can and cannot do and feel more confident in expanding their business. Similarly, if this law is passed, it aims to protect consumers of services related to Bitcoin and other cryptocurrencies.

However, for the bill to pass, Lumis needs the support of other senators. Because of this, he asked his supporters to help him communicate with their representatives and put pressure on them to continue the project.

“Contact your senator and encourage him to consider this.”

Nowadays, it is difficult to find a country with a constitution that simply addresses the cryptocurrency sector, which is less than 10 years old, with the exception of Bitcoin.

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In addition, new utility phenomena, such as NFTs, are always emerging and are difficult to explain by various government agencies, both financial and regulatory. In other words, if many sectors do not want to be left in the lurch, national laws need to be discussed with greater frequency and vigor.

Loomis, Senadora du Bitcoin

Cynthia Loomis is one of the few American political figures to have invested in Bitcoin. He has already announced more than once that people should use it as a pension scheme as it has a limit of 21 million units.

Thereby, one can hope that it represents the whole community looking for investments and freedom of choice about which currency they would like to use. Fiat currencies created can be dropped without any restrictions.

Another important point is that the United States is very open to these conversations and sets a precedent for other countries that are not yet engaged in cryptocurrencies. In addition, the country is taking a very different stance from China, which has banned any kind of activity related to the sector.