The US House of Representatives Passes Bill to Support Blockchain Technologies
The US House of Representatives has passed a bill aimed at supporting and developing blockchain technologies in the country. The bill, introduced by Delaware Representative Lisa Blunt Rochester and Indiana Republican Larry Bucshon, was approved by 334 votes, with 79 representatives opposing. Earlier, the bill received unanimous support from the House Energy and Commerce Committee.
The bill proposes that the head of the Department of Commerce will become the president’s chief advisor on blockchain technology issues. The Secretary of the department will be tasked with developing policy, researching, and promoting distributed ledger technologies. Additionally, an advisory committee will be established at the Department of Commerce, consisting of representatives from the government, industry, academia, and the cultural sector. This committee will be required to provide annual reports to Congress on the development of blockchain technologies.
After approval by the House of Representatives, the bill will be sent for consideration to the Senate. In addition, the House of Representatives has also passed two other blockchain-related bills: one focusing on consumer safety and the other on supply chain resilience. In total, there are around 50 bills in Congress that address various aspects of cryptocurrencies and blockchain technologies.
In the near future, the House of Representatives will also vote on the Financial Innovations and Technology Act of the 21st Century (FIT21), which will further support the development of financial technologies in the US. These steps underscore the growing interest and efforts of the country in integrating and regulating new technologies in the financial sector.
