The State Department should provide a report on the use of cryptocurrencies as a means of payment and evidence that it is more encouraging for those who speak.
The US Congress has proposed an amendment to the 1956 Central Government Act that includes information on crypto-remuneration and payments.
The proposed amendment under the National Defense Authorization Act (NDAA) requires the Department of State, the main department of the US federal government responsible for foreign policy and foreign relations, to notify of any payment or liability crypto activity within 15 days of completion. The NDAA is the name of any of the US federal laws that outline the annual budget and expenditures of the US Department of Defense.
The official document says: “No later than 15 days before making an award in a form that includes cryptocurrency, the Secretary of State will inform the House Foreign Relations Committee and the Senate Foreign Relations Committee of such forms for reward.”
In addition to the 15-day reporting period, the State Department will also submit a complaint to the Foreign Affairs Committee and the Foreign Relations Office within 180 days of the law. , supports the use of cryptocurrencies. such as wages. The report will include evidence that crypto wages will encourage journalists to come forward when compared to “wages paid in US dollars or other currencies and it’s not money.”
The report is also expected to examine whether the use of cryptocurrency can provide malicious actors with “additional hard-to-find funds that can be used for 16 criminal or illegal activities.”
The proposed change could provide more transparency into the State Department’s spending on cryptocurrency. Once adopted, the policy could also provide insight into the federal government’s stance on the misuse of cryptocurrency, a key argument used by lawmakers against cryptocurrencies. The Biden administration launched the “first” cryptosystem in September of this year following the Biden administration in March. The order provided six key guidelines for the regulation of crypto in the United States. This series is a compilation of 9 different crypto stories over the years combined.
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