Promotes innovation in blockchain development by amending the definition of "control" in federal law.
The Promoting Innovation in Blockchain Development Act amends section 1960(a) of title 18, United States Code, to include "exercises control over currency, funds, or other value that substitutes for currency" in the definition of "control." This change aims to clarify the scope of control in federal law, potentially affecting how blockchain technologies and digital currencies are regulated.
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