- U.S. House passed a bipartisan bill for blockchain technology promotion.
- Named “Deploy American Blockchain Act,” enhancing digital competitiveness.
- Bill tasks the Department of Commerce with developing blockchain policies.
The U.S. House of Representatives passed the “Deploy American Blockchain Act” on June 27, instructing the Department of Commerce to enhance blockchain competitiveness.
The bill’s passage reflects the U.S.’ focus on sustaining leadership in digital technologies amid global competition.
U.S. Legislators Push for Blockchain Policy Leadership
The bipartisan “Deploy American Blockchain Act” was introduced in the U.S. House by Representatives Kat Cammack and Darren Soto. It tasks the Department of Commerce with promoting blockchain competitiveness across industries. Sen. Bernie Moreno supports similar efforts in the Senate.
Enhancing blockchain competitiveness is a focus as the Department of Commerce develops policies and coordinates blockchain adoption. This will potentially open doors for long-term investment and other technological advancements.
“This bill is about securing America’s future in a rapidly evolving digital world. Blockchain technology is transforming industries, strengthening our economy, enhancing national security, and revolutionizing how we manage data. But we’re at a crossroads. Nations like China are racing ahead, claiming dominance in this space. We cannot afford to fall behind… Blockchain is the backbone of innovations in supply chain security, digital identity, and smart contracts… It’s about fostering innovation, creating jobs, and protecting our national interests.” — Kat Cammack, Representative, U.S. House of Representatives (source)
U.S. Blockchain Bill Signals Global Tech Ambitions
Did you know? Past U.S. legislative actions, such as the Blockchain Promotion Act, have focused on task forces rather than direct funding, gradually increasing federal interest in blockchain.
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Insights from Coincu research team suggest that the Act may lead to enhanced regulatory frameworks supporting blockchain development in the U.S. The measure might cause increased institutional adoption and public trust in digital technologies.
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Source: https://coincu.com/345378-us-blockchain-competitiveness-bill/