Two bills namely “The Virtual Currency Consumer Protection Act of 2018” and the “U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018” were proposed by Representatives Darren Soto and Ted Budd aimed to combat crypto price manipulation. Both the representatives believe that the ‘virtual currencies and the blockchain technology’ have the potential to steer economic growth.
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A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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