As a seasoned crypto investor with a deep understanding of the blockchain industry, I am thrilled to see the bipartisan Deploying American Blockchains Act pass in the US House of Representatives. This is a significant step forward for the United States in terms of strengthening its competitive edge in the rapidly evolving world of blockchain technology.
The Financial Innovation and Technology for the 21st Century (FIT21) Act, also known as the Deploying American Blockchains Act of 2023, received a total of 334 affirmative votes in the United States House of Representatives, while 79 members opposed it.
A bipartisan legislation, co-sponsored by Reps. Lisa Blunt Rochester and Larry Bucshon, aims to enhance the US’s position in the development of blockchain technology.
Under the new legislation, Commerce Secretary Gina Raimondo is tasked with promoting the adoption of blockchain technology, collaborating with the President on formulating a national blockchain policy, and setting up an advisory board to provide yearly updates on their progress to Congress.
As a researcher, I’d report it this way: On December 5, I observed that the House Committee on Energy and Commerce unanimously endorsed the bill. Subsequently, the Chamber of Digital Commerce and the Blockchain Association gave their approvals as well.
As a crypto investor, I’ve noticed some legislators expressing skepticism towards the digital asset space. Representatives like Sean Casten, Bill Foster, and Brad Sherman were particularly vocal in their opposition. They put forward the Blockchain Integrity Act, which aimed to restrict crypto mixing services for a period of two years. Unfortunately, this bill didn’t make it past a vote.
As a crypto investor, I’ve been closely following the latest developments in Capitol Hill. On May 15th, some significant pieces of legislation were passed in the House, which included the Consumer Safety Technology Act and the Promoting Resilient Supply Chains Act. These bills are now making their way to the Senate, accompanied by approximately fifty other crypto-related proposals.
The passing of the Deploying American Blockchains Act represents a significant advancement for the US in the realm of blockchain technology. This development will foster innovation and bolster competitiveness within the country.
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2024-05-21 07:00