14 US Congressmen move to protect the future of the ICO market...

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Update: The "Blockland Solutions conference" is being held in downtown Cleveland all this week.  According to local news outlet Cleveland.com, U.S. Rep. Warren Davidson of Ohio announced his plan to introduce a bill that would clearly and legally prevent them from being classified as securities, by making them their own unique asset class. 

The original article below was published Sept 29th 2018. 

US Lawmakers on Capitol Hill are demanding the SEC finally provide ICO's with clear indisputable guidelines as to what will classify them as a 'security' investment or not.

To the surprise of some - the congressmen want to make sure the ICO market is allowed to flourish! Stating first:

"Your input is critical to helping us preempt a heavy-handed regulatory approach that could stall innovation and kill the U.S. ICO market"

The letter to the SEC comes from congressmen Ted Budd, Warren Davidson, Tom Emmer and Darren Soto - and is signed by 11 other supporting representatives, and continues...

"We believe the SEC could do more to clarify its position. Additionally, we are concerned about the use of enforcement actions alone to clarify policy and believe that formal guidance may be an appropriate approach to clearing up legal uncertainties which are causing the environment for the development of innovative technologies in the United States to be unnecessarily fraught."

It's been a great month for the future outlook of the cryptocurrency markets, and while there's potential for anything to happen, we've been surprised as more and more lawmakers have expressed pro-cryptocurrency positions.  Enough now where we believe future regulations will help more than hurt.

It appears enough lawmakers grasp that cryptocurrencies will play a large role in the future online and global economies - any law that keeps US companies or citizens out, hurts the nation in the long run.
Author: Justin Derbek
New York News Desk

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