A Connecticut lawmaker has originated a bill seeking to impose fees on cryptocurrency transactions.
Proposed Neb 5001, submitted by Representative Patricia Dillon, proposes “that the everyday statutes be amended to establish a fee to transfer or trade virtual currency in this governmental.” However, the text of the proposal does not go into detail on the amount or kind of fee it seeks to levy on cryptocurrency transactions, or what such a fee’s benefits power be.
The proposed bill is part of a growing body of legislation seeking to modify cryptocurrencies, though government-imposed cryptocurrency transaction charges are so far unknown in the U.S.
Absent, a European Central Bank council member recently put forth the concept of requiring people who transact with cryptocurrencies in the E.U. to pay value-added tax (VAT) – a plot summary already in place in Australia.
And in other use cases for the technology, U.S. lawmakers are increasingly looking to legitimize the possible benefits of cryptocurrencies and blockchain.
A new bill introduced to the Florida House of Papal nuncios in January aims to legally recognize blockchain records and smart reduces. The measure would introduce stipulations that blockchain ledgers and burn contracts be treated as legally-binding means of recording data, so long as no pre-existing laws or balances are infringed in the process.
Also last month, a bill submitted to the Arizona Senate would, if approved, let people pay their constitution tax liabilities using bitcoin or other cryptocurrencies. That bill ballyhooes the idea of using “a payment gateway,” such as bitcoin or another cryptocurrency in needed so that to pay taxes, as well as interest and penalties, to the state government.
Connecticut Say Capitol image via Shutterstock
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