Jack Dorsey’s payment company Block has suggested a policy agenda that claims that Bitcoin’s evolution can be unlocked from preliminary assets to the US’s everyday payment means. DORSEY posted on X today and amplified the detailed blog posts and previous threads of Thomas Templeton, the lead of the Bitcoin hardware and mining initiative.
Templeton wrote that the block is “a building toward the world where Bitcoin is not a valuable money but a everyday money.” The parliamentary action is now a decisive variable. “In order to realize this vision, parliament is needed to modernize the regulatory framework to support it.” He said in connection with the company’s memorandum to the followers to unlock Bitcoin with everyday money.
3 changes to earn Bitcoin money
In this document, Block returns to Bitcoin’s founding premise presented by Satoshi Nakamoto in 2008: “P2P Electronic Cash System”. The open and licensed design of the network is “not about guessing, but about access,” and claims that BTC’s architecture is deployed as a model of “elasticity and innovation” of the national payment infrastructure. Block said it is investing in stacks to lower the barriers of “people and small businesses,” which basically wants to trade Bitcoin.
But the company claims that federal law has not made technical progress and assistance. It calls for three stages that lawmakers regarded as a prerequisite for the use of mass markets.
First, the block emphasizes the urgency of comprehensive market structure reform embodied by the Digital Asset Market Clarity (Clarity) Act. The company that reaffirmed Block’s briefing argues that Bitcoin’s “diverse, licensed and open source architecture is one of the most transparent and democratic dominant money.”
Second, the company is looking for legal protection of “participants who do not raise customer funds such as software developers, nod operators, miners and wallet providers.” This language reflects the two parties’ blockchain regulatory law, which will encrypt the principle that the Don transmitter rules only apply to intermediaries who control customer funds.
Third, the block press for the exemption from the minimum capital gain for small retail transactions compares Bitcoin’s tax processing to foreign currency. According to the current rules, purchasing a cup of coffee with a grateful BTC believes that the friction block that causes taxable events will “interfere with everyday use.” The company plans to make BTC paying directly “late this year”, and tax safe Harbor says, “It is essential to allow Bitcoin to be more widely adopted as an exchange medium.
In the entire policy paper, Block differentiates Bitcoin from a wider digital analysis sector by emphasizing the fixed supply of 21 million coins, “Soning possibilities” and more than 10 years of operation. Memo said, “Beyond the border, Bitcoin has a real potential to modernize modern payments and solve everyday financial demands.
DORSEY’s personal advocacy for Bitcoin is well known, but once called “the basic call of the Internet.” Block’s new roadmap still represents the company’s most detailed policy blueprint. The legislative chess board has been shifted since its release.
In contrast, the narrower blockchain regulatory certainty law has been re -introduced, remained in the House of Representatives Financial Services Commission and has not yet been submitted. Therefore, the parliamentary watchers are focusing on whether the Senate Tim Scott, the Senate Chairman Tim Scott, will allow a clear mark up according to the hearing on the digital-set market structure on September 9, September 9, and whether tax notes will transplant the minimum capital gain exemption for the next essential pass vehicle.
According to the Block Warning that there is no such reform, the United States is at risk of eliminating the basis for the jurisdiction of Bitcoin payments. The message of Square’s merchant network is not clear to the company’s lawmakers while preparing to accept Bitcoin with credit card and tap paralysis.
In the press time, the BTC was traded at $ 117,152.
DALL.E, major images made with charts on TradingView.com
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