A significant step for pro-blockchain legislation has been achieved in the U.S. House of Representatives. The House Committee on Energy and Commerce unanimously approved the "Deploying American Blockchains Act," a piece of legislation aimed at promoting blockchain technology in the United States. This 13-page bill, though not among the industry's most anticipated, represents a progressive move towards recognizing and supporting blockchain technology at the congressional level.
The legislation received a 46-0 vote in favor, directing the U.S. secretary of commerce to enhance the competitiveness of the United States in the deployment, use, application, and competitiveness of blockchain and other distributed ledger technologies. However, the bill currently lacks a counterpart in the U.S. Senate, which is seen as a significant obstacle to its progression, as the Senate has been slow to embrace digital assets legislation. This new bill joins several other crypto-friendly bills that have cleared committee votes but are yet to gain overall House approval.
Ron Hammond, the Blockchain Association's director of government relations, noted the non-partisan support for the bill within the Energy and Commerce Committee. He highlighted the possibility of these bills being integrated into larger, must-pass legislation or leading to agency action at the Department of Commerce, which has shown openness to blockchain technology discussions.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
