In a landmark decision, the United States Congress committee gave the green light to a bill promoting blockchain technology, thereby taking a significant step towards ensuring U.S. leadership in this cutting-edge tech field. This bill, known as H.R. 6572, the Deploying American Blockchains Act of 2023, was unanimously approved by the House Committee on Energy and Commerce on December 5.
The bill requires Secretary of Commerce, Gina Raimondo, to take steps towards enhancing the competitive edge of the U.S. in the realm of blockchain. Cody Carbone, the policy leader of the Chamber of Digital Commerce, praised this move on X (formerly Twitter), voicing his belief that this legislation would significantly fortify U.S. leadership in blockchain development.
Under this legislation, a “Blockchain Deployment Program” will be created to foster the use of this technology. The program will form advisory committees, including federal agency representatives, blockchain industry stakeholders, and other experts, to support and guide blockchain adoption. Moreover, the Commerce Secretary is mandated to establish best practices, policies, and recommendations for both public and private sectors to utilize this technology effectively.
The proposed legislation is also designed to facilitate better coordination among federal agencies interested in using blockchain technology. It will commission studies on the current usage of this tech by federal agencies and ascertain their readiness for future adoption.
While the bill still needs to be approved by the House, Senate, and ultimately the President, its initial success marks significant progress in the recognition and furtherance of blockchain technology within the US legislative framework.