US Congressman: Legislation should be adopted to alleviate inappropriate encryption taxes

According to CoinDesk, North Carolina State Councilman Ted Budd stressed in a speech on the US House of Representatives fundraising committee on June 4 that he wants to get bipartisan support for two bills, the "Cryptographic Currency Tax Equity Act" and "2018 Virtual Value Tax Law." Budd said in his testimony that the development and protection of the US blockchain industry is a national security issue. The threat to this emerging industry comes from an inappropriate tax burden that can be mitigated through legislation.