US House of Representatives has approved a bill to support blockchain technologies
Authority to promote the sector will be given to the Secretary of Commerce
21.05.2024 - 11:15
195
2 min
0
What’s new? The US House of Representatives has passed a bill that would give the Commerce Department the authority to promote the crypto sector. The bipartisan Deploying American Blockchains Act of 2023 directs the secretary of the department, a position currently held by Gina Raimondo, “to take actions necessary and appropriate to promote the competitiveness of the United States [in] blockchain technology or other distributed ledger technology.”
What else is known? The bill was introduced by Delaware State Representative and Democratic Party member Lisa Blunt Rochester along with Republican Larry Bucshon of Indiana. It received the support of 334 representatives, with another 79 opposed. Earlier, the document was unanimously approved by the House Committee on Energy and Commerce.
The bill calls for appointing the head of the Department of Commerce as the President’s primary advisor on blockchain and assigning him a number of responsibilities, including policy development, research, and promotion of the technology.
An advisory committee is to be established under the Secretary of the Department, with members drawn from government, industry, academia, and culture. The committee would be required to submit annual reports to Congress.
After approval by the House of Representatives, the document will go to the Senate for consideration. Along with it, representatives approved two other blockchain-related bills: on consumer safety technologies and on promoting sustainable supply chains. In total, there are about 50 bills affecting cryptocurrency at various stages of consideration in Congress.
US Department of Commerce has recognized bitcoin NFTs as cyber threat
Experts referred to the statements of the Bitcoin Core client developer and included the vulnerability in the national registry
The House of Representatives will also soon vote on the Financial Innovation and Technology for the 21st Century Act (FIT21).
Useful material?
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024