United

Biden

<p>The House Committee on Energy has voted unanimously to approve a new piece of legislation entitled the “Deploying American Blockchains Act.”</p> 
<h2 id="what-the-bill-entails">What the bill entails</h2> 
<p><br> <a href="https://d1dth6e84htgma.cloudfront.net/H_R_Deploying_American_Blockchains_Act_Reps_Bucshon_and_Blunt_Rochester_e4ce972799.pdf">According to the brief</a>, the bill would “direct the Secretary of Commerce to promote the competitiveness of the United States related<a href="http://cryptonews.com/wp-admin/post-new.php">&nbsp;to the deployment, use, application, and competitiveness of blockchain technology</a> or other distributed ledger technology, and for other purposes.”</p> 
<p>The brief notes that the Secretary of Commerce would “serve as the principal advisor to the President” regarding policy issues related to blockchain technology.</p> 
<p>Moreover, the bill would require the Secretary of Commerce to spearhead a “Blockchain Deployment Program” that would “support American leadership in the deployment and<a href="https://cryptonews.com/guides/what-is-blockchain-technology.htm"> use of blockchain technology and other distributed ledger technology</a>, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization.”</p> 
<h2 id="support-from-industry-leaders">Support from industry leaders</h2> 
<p><br> Led by efforts from Congresswoman Lisa Blunt Rochester (D-DE) and Congressman Larry Bucshon (R-IN), the bill has even garnered approval from some of the crypto industry’s biggest voices, including the Blockchain Association and the Chamber of Digital Commerce.</p> 
<p>“This bipartisan bill will help preserve U.S. leadership in blockchain development, which is sorely needed,” <a href="https://twitter.com/CodyCarboneDC/status/1732489097501950321">stated Cody Carbone, Vice President of Policy for the Chamber of Digital Commerce</a>. “If you think not, China currently owns 84% of all blockchain patents. It’s time for the U.S. to step up.”</p> 
<p>“It’s critical that the United States leads the development and deployment of blockchain technology,” <a href="https://twitter.com/BlockchainAssn/status/1732113473448870239/photo/1">stated Blockchain Association CEO Kristin Smith</a>. “Blockchain Association thanks Reps. Bucshon (R-IN) and Blunt Rochester (D-DE) for their focus on innovation and applauds the introduction of the “Deploying American Blockchains Act of 2023.” Blockchain technology has world-changing applications, and this bipartisan bill rightfully advances our nation’s competitiveness in this nascent space.”</p> 
<h2 id="where-it-goes-from-here">Where it goes from here</h2> 
<p><br> The Deploying American Blockchains Act is just one of dozens of crypto-related bills brought forward for approval since last year, however, its future is still uncertain.</p> 
<p>The bill <a href="https://cryptonews.com/news/house-financial-services-subcommittee-on-digital-assets-tackles-hamas-illicit-assets.htm">now must pass a full vote on the House</a> floor, which if approved, would send the bill to the Senate for further approval. President Biden would get the final say on ratifying once it’s through Congress.</p> 
<p>“This bipartisan legislation would pave the way for a more efficient and secure U.S. economy by identifying vulnerabilities and mitigating risk,”<a href="https://bucshon.house.gov/news/documentsingle.aspx?DocumentID=4510"> said Dr. Buschon</a>. “I hope the bipartisan introduction of these pieces of legislation signal Congress’ steadfast commitment to ensuring U.S. economic strength and global competitiveness.”</p>

House Committee Unanimously Passes Pro-Blockchain Bill

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