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Breaking Barriers: US Congress Propels Forward with Game-Changing Pro-Blockchain Legislation

US Committee Passes Pro-Blockchain Bill

In a decision on 5 December, the House Committee on Energy and Commerce voted 46–0 in favor of H.R. 6572, known as the Deploying American Blockchains Act of 2023.

The 13-page bill aims to advance blockchain deployment in the United States, tasking Commerce Secretary Gina Raimondo with actions to enhance the nation’s competitiveness in blockchain technology.

Cody Carbone, the head of policy for the Chamber of Digital Commerce, praised the move, highlighting its importance in preserving U.S. leadership in blockchain development.

Blockchain Association CEO Kristin Smith commend the committee’s decision, emphasising its crucial role in preserving U.S. leadership in blockchain development.

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The legislation seeks to promote blockchain leadership by improving coordination among federal agencies interested in using blockchain technology.

Studies will assess federal agencies’ current use and readiness to adopt blockchain.

Promoting Blockchain Leadership

The legislation seeks to promote blockchain leadership by improving coordination among federal agencies interested in using blockchain technology.

Studies will assess federal agencies’ current use and readiness to adopt blockchain.

While impactful, the Deploying American Blockchains Act is not perceived as having a major impact.

Some other proposed bills, such as the Financial Innovation and Technology for the 21st Century Act, address the classification of cryptocurrencies and regulatory jurisdictions.

US Subsequent Legislative Procedures

The bill’s journey continues with a vote in the House, followed by Senate approval, before returning for final congressional and presidential approval.

The outcome will shape the regulatory landscape for blockchain technology in the United States.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.