Keep Innovation in America Act

According to reports, U.S. Representative Tom Emmer proposed the KIIA (Keep Innovation In America Act), which aims to reduce the compliance burden on cryptocurrency brokers. KIAA proposes to update the laws provided for in the Infrastructure Law passed in 2021. (Forbes) U.S. Representative Tom Emmer proposes a KIIA bill to reduce the compliance burden on cryptobrokers Analysis based on this information:U.S. Representative Tom Emmer has proposed the Keep Innovation in America Act, aimed at easing the compliance burden on cryptocurrency brokers. This legislation intends to update laws laid down by the Infrastructure Law passed in 2021, which imposes stricter regulations on crypto transactions. Forbes reported about Emmer’s efforts and how they may benefit the crypto industry. KIIA seeks to address issues that crypto brokers face while conducting their businesses. With the dramatic rise of cryptocurrencies, regulators have been struggling to keep up with the evolving technology. In response, they have enforced stricter laws to protect investors and combat illicit activities…