A Democratic Representative in the US Congress will at a time support a blockchain bill when several left-winged legalists are blocking the crypto-related pieces of law due to concerns with the possible conflicts of the interests of President Donald Trump.
In May 21 notice, Minnesota representative Tom Emper Said He re -introduced the Blockchain Regulatory Suretain Act, a bill, which “digital asset developers and service providers who do not detain money are not money transmitters.” Emmar, a Republican, said, “Democratic representative Richie Torres co-dated the bill, making it a bilateral attempt in the Congress.”
“The Blockchain Regulatory Previdence Act reflects a thoughtful, bipartished effort to find the digital asset policy correct,” said Torres. “While a similar language was voted in the previous Congress in markup, we took that response seriously and returned with a smart, sharp framework that protects innovation without monitoring.”
Representatives of advocacy organizations including Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DEFI Education Fund and Blockchain Association said that they would support the proposed blockchain regulatory bill. It was not clear whether Emmar and Torres had most of the votes in the House of Representatives to pass the law.
Torace has supported several bills and policies suited to the crypto industry since assuming office in 2021. Together with Emmar, they have Congress Crypto Cocks led To carry forward the crypto-friendly policies in the house since March.
A bilateral blockchain bill amidst memecoin concerns?
Members of other Democratic House including Representative Maxin Waters have suggested them Intention to block any law As long as Republican addresses a connection to Republican Trump’s industry, such as his family’s share in Liberty Financial and his Trump Memcoin, until the Republican Trump related to Crypto and Blockchain. On May 22, the President plans to host dinner with 220 people in the most important amount of his memecoin.
Connected: Interest Group to oppose Trump’s Memcoin Dinner, MPs
Cointelegraph arrived at the Torres’s office for comment, but did not receive the response at the time of publication.
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