Although the bill itself has yet to be completed, Stockman gave a strong indication of the tone in his press release.
This is a nascent industry. Along with 3-D printers and nanotubes, cryptocurrency is the future. We need to encourage it, not discourage it. There is risk associated with every budding industry in America.”
Stockman is already well-known in the bitcoin community for becoming one of the first national-level politicians to accept campaign contributions in bitcoin. Even though the Federal Elections Commission (FEC) has confirmed that bitcoin donations are legal, the IRS ruling could have a chilling effect on bitcoin use as political contributions. Congressional reaction to Stockman’s bill may prove an effective gauge for the impact of bitcoin in coming elections.