Government Wakes Up To Blockchain & Cryptocurrency

The US dollar is eroding, & cryptocurrency use is
rising. Will this trend hurt the global economic
system?

Washington, D.C., Sept 13, 2021 – (ACN
Newswire) – In August, the US Senate approved the $1
Trillion Infrastructure Bill, as part of the $3.5 Trillion
Budget Bill. Language in this bill suggests that $28 Billion
in funding will come from enforcing tax-reporting
requirements on cryptocurrency brokers. A cryptocurrency
broker is anyone who buys or sells cryptocurrency. Just
months earlier, Nasdaq stated that 17% of the US population,
or roughly 46 million Americans, now own cryptocurrency.
Further, research from The Ascent, a Motley Fool service,
predicts that over 20% of Americans who have never before
owned cryptocurrency, are expected to buy crypto in the next
year. This would add another 50 million Americans to the
team of crypto “brokers” tasked with funding the
Infrastructure Bill. Are the fiat and crypto sides being
pitted against each other? As capital flight shrinks the
power of the US dollar, is Congress responding by taxing the
‘culprit’?

This
fall, the Government Blockchain Association (GBA) (www.gbaglobal.org)
has partnered with a coalition of blockchain associations to
present Blockchain & Infrastructure, a two-day hybrid
event coupling an educational seminar with a networking
reception. As the debate over blockchain and cryptocurrency
torches through Congress, one thing is crystal clear:
government regulation of this technology is on the table
NOW. Government policy makers need relevant information to
craft the legislation being demanded of them. This 2-day
seminar is a crash course in that education.

On
Tuesday evening, September 28, GBA’s evening reception will
introduce law makers and government leaders to the people
and organizations using this technology in positive and
productive ways. Creating open dialogue is paramount if we
are to establish a healthy legal framework where consumers
are protected and innovation and economic development
flourishes.

For more information, including live and
virtual Tickets, go to www.governmentblockchainfoundation.org.

© Scoop Media

 

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