[2018-03-16] US Economic Report Dedicates a Whole Chapter on Cryptocurrencies

[moriskarlov]

The “2018 Economic Report for the President” has recently been published with a whole chapter dedicated to cryptocurrencies like bitcoin, ethereum, and the future of blockchain regulation.

New Innovations and Markets Presents America’s Regulatory and Legislative Institutions With Unique Challenges

Every year the U.S. Congress publishes an economic report that discusses a variety of subjects that affect the economy such as technology, opioid abuse, employment rates, and the stock market. This year’s “2018 Economic Report” features a whole chapter focused on bitcoin, initial coin offerings (ICOs), and blockchain technology. Chapter nine is called, “Building a secure future, one blockchain at a time.” The congressional study takes note that last year cryptocurrencies had entered a mainstream awareness phase.      

“Blockchain technology — providing cybersecurity and many other potential benefits—broke into the mainstream in 2017 driven by widespread interest and surging valuations in digital currencies such as bitcoin and ethereum,” explains the report.

   "These new innovations and markets presented America’s regulatory and legislative institutions with unique challenges as well as technology that could revolutionize the world’s digital landscape and economy."

https://news.bitcoin.com/us-economic-report-dedicates-a-whole-chapter-on-cryptocurrencies/

[Coffee135]

Such hearings happen all the time. But this does not mean that it will be important for the development of the use of cryptocurrency. This means that the us Congress recognizes that the problem of cryptocurrency has a mass character and deserves to be paid attention to it. After such meetings, we can wait a very long time for concrete actions and have never waited for them.

[seoincorporation]

Such hearings happen all the time. But this does not mean that it will be important for the development of the use of cryptocurrency. This means that the us Congress recognizes that the problem of cryptocurrency has a mass character and deserves to be paid attention to it. After such meetings, we can wait a very long time for concrete actions and have never waited for them.

Agree. There are so many proposals concerning to regulations, but they are just, for the moment, in the "proposal" stage. Nevertheless, I believe this present year we are going to be spectators of new regulations worldwide but is going to take a while for them to be implemented. Countries like Spain are working with crypto developers and entrepreneurs in order to make an agreement, but they are just in the phase of defining what bitcoin and cryptos, in general, mean to the economy. Are they money? Are they assets? What are they?
In the other hand, Mexico congress made a proposal last month about crypto and which of them are going to be considered as legal. But they have elections this year and the politic panorama is bloody and difficult, so I don't think they are going to put the attention on crypto.
This is a difficult political time all over the world. Of course, is time to pay attention to crypto, but regarding the implementation of useful laws... is going to be difficult to achieve in such crazy times.
However, this is going to be done eventually. I don't see countries standing behind progress as others are already riding the crypto and getting good profits.