They are choosing to say it has supportive language for digital currencies and the blockchain technology, however I personally don't think that it as supportive as they're saying to be honest. It probably is just making sure that most of the banks and so will be able to access blockchain technology and the government will look for heavily at digitizing a lot of things more than likely.
I agree with that. There's a lot for the financial and government system to gain by using blockchain technology. Not nearly as much to gain by their use of Bitcoin, but mostly due to the currency exchange risk associated with Bticoin.
According to an article from Bitcoin Magazine (link below), the US is actually falling behind the rest of the world in Bitcoin regulation. I suppose this is a good thing though, we don't really want more rules over how we use Bitcoin. We just want the major players to recognize that Bitcoin is something that exists and is valuable.
https://bitcoinmagazine.com/articles/the-united-states-is-falling-behind-in-bitcoin-regulation-1461604211You should not confuse legitimacy with legality.
Agreed (and I don't confuse the two). All Bitcoin needs to exist is a community of people who agree that it has value and use it in exchange for goods and services or store of value. One of the underlying points of Bitcoin is that it does not seek Government approval.