A committee in the United States Congress has approved a bill supporting blockchain technology. The House Committee on Energy and Commerce unanimously passed the Deploying American Blockchains Act of 2023.
The House Committee on Energy and Commerce unanimously approved H.R. 6572, known as the Deploying American Blockchains Act of 2023. This decision was part of a session to review and advance 44 different pieces of legislation.
While it may not be a major piece of legislation that the crypto industry is eagerly anticipating, it signifies a positive move for congressional initiatives supporting cryptocurrency.
This bill, along with others, has achieved a significant milestone by getting committee approval, although none has been fully endorsed by the entire House of Representatives as of yet.
The House Committee on Energy and Commerce unanimously approved a set of bills, during a work session this week.
One of these bills, with a 46-0 vote, aims to instruct the head of the Department of Commerce to enhance the United States’ competitiveness in the areas of blockchain technology and other distributed ledger technologies, including their deployment, utilization, and overall competitiveness.
The bill covers an array of actions the commerce secretary must take if passed, including making best practices, policies, and recommendations for the public and private sectors when using blockchain technology.
The proposed legislation also aims to set up a “Blockchain Deployment Program” to promote the technology’s application. Additionally, government advisory committees will be formed, comprising representatives from federal agencies, stakeholders in the blockchain industry, experts, and other individuals, to support the adoption of blockchain.