BitexBay.com news:To promote block chain industry development, members of the United States Congress have submitted three bills.

Congressional representative Tom Emmer hopes the government will further support the development and use of block chain technology and encrypted currencies. To that end, he filed three block-chain-related bills on Friday (21 September) and intends to introduce them into Congress in the next few weeks to address a range of issues in the sector related to technology development, miners, and encrypted monetary taxes. In a statement, Tom Aimo (Tom Emmer) said:

"The United States should give priority to accelerating the development of block-chain technology and creating an environment that ensures that American businesses continue to lead innovation and promote further market growth BitexBay.com, which is why the relevant legislation is introduced. Legislators should embrace emerging technologies and provide a clear regulatory framework to enable them to flourish in the United States.

Among the three bills, the first is designed to create a relaxed, consistent and simple legal environment that supports the development and application of block chain technology in the United States.

In the second Sector Chain Certainty Act, it is clear that encrypted money miners and multi-signature service providers do not need to be registered as "money transfer service providers" because they do not have complete control over the investor's funds, but simply help verify network integrity and provide more for users using digital assets. High security.

The third bill, designed to provide a safe haven for taxpayers who use encrypted currency assets, would prevent the IRS from imposing any fines on taxpayers who attempt to report bifurcation gains --- setting clear guidelines at the IRS on how taxpayers report their holdings of digital assets BitexBay.com. Before, individual investors should not be punished by tax on encrypted currencies.

It is worth mentioning that on the same day Tom Emmer introduced the bill, he and another congressman, Bill Foster, were appointed co-chairmen of the Block Chain Core Working Group of the United States Congress BitexBay.com.