SB 111-05: Competing Currencies Act (Motion to table)

[WD]

COMPETING CURRENCIES ACT

SECTION I: NAME
a. This act shall be referred to as Competing Currencies Act

SECTION II: Competing Currencies
a. Gold and silver shall be considered forms of legal tender.
b. Cryptocurrencies, with a value that is purely economic, used in transactions, and for storing money, shall be considered an alternative form of currency.
c. Any regulations prohibiting Atlasians from using gold, silver, cryptocurrency and any other alternative currencies developed in the future in financial transactions if a seller accepts the payment in alternative currency or legal tender are hereby eliminated.
d. Any regulations prohibiting an employer from paying an employee in legal tender or cryptocurrency if the employee accepts wages in an alternative currency or legal tender are hereby eliminated.
e. All federal taxes on gold and silver are hereby eliminated.
f. Any regulations prohibiting the operation of private mints for alternative currencies are hereby eliminated.
g. Nothing in this act shall modify, amend, or supersede the No Foolish Tokens Act.

SECTION III: TIME
a. This act shall take effect at the beginning of fiscal year 2023.

Sponsor: DeadPrez

[WD]

24 hours to object to sponsorship

[WD]

WM is recognized as sponsor

[WD]

Vote on the motion to table is now open. Please vote Aye, Nay, or Abstain.

[WD]

Closing in 24 hours

[WD]

By a vote of 7-2-0-9, this is tabled.