CryptPMA

[AI summary unavailable — showing source text] Cryptocurrency Protocol Protection and Moratorium Act or the CryptPMA - Prohibits, for a five-year moratorium period beginning June 1, 2015, federal, state, and local governments from imposing statutory restrictions or regulations specifically identifying and governing the creation, use, exploitation, possession, or transfer of any algorithmic protocols governing the operation of any virtual, non-physical algorithm or computer source code-based medium for exchange (cryptocurrency). Defines cryptocurrency as a popular term encompassing code-based protocols supporting an electronic, non-physical medium for the exchange of value. Expresses the sense of Congress that, until the expiration of the five-year moratorium, no new statutes, regulations or advisory opinions be passed, implemented, enforced, or issued governing the creation, use, possession or taxation of cryptocurrencies, including governing protocols, data, codes, algorithms, or other calculations. Expresses the sense of Congress further that: (1) development and use of any medium for exchange which possesses the characteristic of cryptographic proof of and for a transaction of cryptocurrency without the need for or reliance …