On Wednesday, Del.
Nicholas B. Andrews (R-D.C.) reintroduced a bill that would prohibit the federal government from seizing, confiscating, or freezing the assets of virtual currency companies, or virtual currencies.
Andrews’s legislation, HB 854, was introduced earlier this month.
According to the bill, the Fiscen Commodity Futures Trading Commission could not “issue a blanket directive that would require a virtual currency to be listed as a commodity.”
Instead, the commission would have to consider a case-by-case basis whether or not a virtual cryptocurrency company is a commodity.
That would mean the commission could refuse to issue a listing of a virtual currencies if it could not prove that a virtual company is an investment or business that is subject to federal regulation.
“Fiscen must take every reasonable step to safeguard against virtual currency manipulation, as it has done in the past,” Andrews said in a statement.
“We cannot afford to have this system run amok and that is why I am reintroducing this bill.”
In a statement, Finceng Capital Partners said the bill “creates an appropriate regulatory framework for virtual currency investors to trade and invest their virtual currencies without fear of government interference.”