U.S. House Continues to Explore Blockchain Regulation (NLR)
By Jordan Shelton Following up on their recent introduction of the Token Taxonomy Act , Representatives Darren Soto (D-FL) and Warren Davidson (R-OH) have teamed up again to introduce a new slate of bipartisan bills related to virtual currency. The two new bills, H.R. 922 and H.R. 923 , were introduced on January 30, 2019 and are cosponsored by Representatives Ted Budd (R-NC) and Bonnie Watson Coleman (D-NJ). H.R. 922 H.R. 922, the Virtual Currency Consumer Protection Act of 2019, would require the Chairman of the Commodity Futures Trading Commission (the “CFTC”) to submit a report examining the potential for virtual currency price manipulation to certain House and Senate committees within one year of H.R. 922’s enactment. The report, drafted in consultation with the heads of the Securities and Exchange Commission (the “SEC”) and other relevant federal agencies as the CFTC Chairman deems necessary, would: detail possible methods of virtual currency price manipulation; d