US looks to regulate digital currencies for online gaming

The US has been steadily advancing the online gaming cause, with legislators this week introducing a bill to regulate the financial system of cryptocurrencies in the online gaming industry.

Libertarian Republican Congress members have announced that a new bill is underway to allow internet users to operate in a online market which will run with cryptocurrencies. This legislation will control the use of this type of currency in online gaming platforms.

According to media reports, the final draft will be presented in September by one Republican Senator and two congressmen. Legislators hope that the bill will go live shortly after being drafted as it is expected to be fully supported by libertarian congress members and opposition from treasury offices. Additionally, the project would include conditions to prevent financial crimes like money laundering. According to reports on coinpedia.org, the centre piece of the plan is to mainstream digital currency so it can be treated just like the American dollar. Moreover, there is a new entity that is considering issuing a brand new digital currency that is compliant with anti-money laundering laws.