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Legislation Addressing Cryptocurrency Moves Forward

Apr 12, 2019

Given the increasing use of cryptocurrency worldwide, the House of Representatives approved legislation updating criminal definitions in instances where money changes hands to include cryptocurrency. The bipartisan package specifically targets areas such as embezzlement and racketeering. The bill package has been referred to the Senate Judiciary and Public Safety Committee for consideration.

Cryptocurrency first started to appear in the United States in the early 1990s, but its popularity has taken off due to a surge in online business and the ease and unregulated nature of exchange. Several major merchants across the country now accept digital forms of currency.

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