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.