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
203
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
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024