Texas Congressman Steve Stockman of is stirring up the bitcoin debate on Capitol Hill. The representative made headlines earlier this year when he became the first politician to accept bitcoin for his campaign in his run for the senate.
Stockman showed up last night at the New York City Bitcoin Center with a copy of the bill, which he is planning to set in motion at the 113th Congress second session. The bill, which is titled “To change the tax status of virtual currencies from property to currency” is a call to reform the guidelines set forth by the IRS along with other regulatory entities that regard the digital currency as property.
In a statement, the Texas represeantive said “This is a nascent industry. Along with 3-D printers and nanotubes, cryptocurrency is the future,” said Stockman. “We need to encourage it, not discourage it. There is risk associated with every budding industry in America.”
In an statement, Nick Spanos, founder of the New York City Bitcoin Center commended the congressman for his work surrounding the regulatory environment of the digital currency. “We salute Congressman Stockman for making good on his promise to support digital currencies like Bitcoin,” he said.
Spanos went on to say, “The Congressman displayed an interest in Bitcoin’s path-breaking, job-creating technology early on. On behalf of the entire digital currency community who have a stake in this nascent industry’s growth and its normalization into the economy, Bitcoin Center NYC thanks Congressman Stockman for leading the charge amid what often seems like conspicuous silence on the matter,”.
Click Here to Donate to Steve Stockman’s Campaign: stockman2014.com/bitcoin-donation