Technology content trusted in North America and globally since 1999
8,219 Reviews & Articles | 62,273 News Posts

Congressman Steve Stockman says bitcoin regulation talk is too hasty

It would seem bitcoin regulation in the United States seems likely in the future, but Congressman Steve Stockman says it's too early for it right now
By: Michael Hatamoto | Business, Financial & Legal News | Posted: Dec 7, 2014 11:41 am

US Congressman Steve Stockman (R-TX) recently introduced the H.R. 5777 "Cryptocurrency Protocol Protection and Moratorium Act," which would effectively treat bitcoins and other cryptocurrencies as real currency. The moratorium would also prevent state and federal bitcoin regulation for five years - Stockman hopes investors and support for bitcoin will increase if lawmakers are unable to keep the government from interfering on a frequent basis.




Here is what Congressman Stockman recently said: "It's too early to be talking about that. Just imagine if Steve Jobs had to deal with this, or anybody starting an Internet company having to hop through the obstacles they're putting up."


US lawmakers are paying more attention to cryptocurrencies, but might be too eager to create new legislations - without thinking of long-term consequences - especially if the industry cannot flourish naturally.


Related Tags

Got an opinion on this news? Post a comment below!