(Bloomberg) -- Two members of Congress have formed a caucus to advocate for cryptocurrencies and blockchain-based technologies, a growing part of the tech economy that may require new laws to thrive.

Representative Mick Mulvaney, a South Carolina Republican, and Representative Jared Polis, a Democrat from Colorado, said the Congressional Blockchain Caucus will work to raise awareness, promote policies and safeguard consumers, according to a statement Monday.

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