A pro-blockchain bill has received unanimous support from a United States House Committee, marking a significant step towards potentially increasing the use of blockchain technology across the country.
On December 5, 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. This vote was part of a session dedicated to advancing 44 pieces of legislation.
The 13-page bill instructs Secretary of Commerce Gina Raimondo to engage in activities necessary to enhance the competitiveness of the United States in the realms of blockchain technology deployment, usage, application, and overall competitiveness.
Cody Carbone, the policy director for the blockchain advocacy group Chamber of Digital Commerce, praised the committee’s decision on Twitter. He emphasized that the bill’s passage is crucial for maintaining U.S. leadership in blockchain development. Kristin Smith, CEO of the Blockchain Association, also supported the bill, highlighting its role in advancing the nation’s competitive stance in this emerging field.
The legislation outlines several responsibilities for the commerce secretary, should it be enacted. These include developing best practices, policies, and recommendations for both public and private sectors in utilizing blockchain technology.
A key feature of the bill is the establishment of a “Blockchain Deployment Program” to facilitate the adoption of this technology. Additionally, it proposes the formation of government advisory committees, comprising federal agency representatives, industry stakeholders, experts, and others, to support blockchain integration.
The bill also aims to promote U.S. leadership in blockchain and enhance coordination among federal agencies interested in employing this technology. It includes provisions for conducting studies on the current and future readiness of federal agencies to adopt blockchain.
While this pro-crypto bill is one of over 50 circulating in Congress since 2022, it is not considered as impactful as some others, like the Financial Innovation and Technology for the 21st Century Act. The latter addresses the critical issue of classifying cryptocurrencies as commodities or securities and clarifying regulatory jurisdictions.
The next step for this bill is a vote in the House. If it passes, it must then progress through the Senate and return for final Congressional and presidential approval.
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