US House Approves Bipartisan Bill to Strengthen Blockchain Technology

The United States House of Representatives recently took an important step in favor of blockchain technologies by passing the American Blockchain Deployment Act of 2023. With a favorable result of 334 to 79 votes, the bipartisan bill appoints Commerce Secretary Gina Raimondo, to implement strategies to increase US competitiveness in the blockchain sector.

Under the new legislation, the Secretary of Commerce will assume the role of the President’s chief advisor on blockchain-related matters. This strategic positioning gives the secretary a variety of responsibilities, ranging from policy development to promoting blockchain research and technology.

In addition, it is planned to create an advisory committee to assist the Secretary of Commerce. This group will be made up of members from government, industry, academia and culture, reinforcing a multidisciplinary approach to governance and expanding the use of blockchain. One of the main products of this committee will be the preparation of an annual report to Congress, detailing progress and recommendations.

The proposal was initiated by representatives Lisa Blunt Rochester and Larry Bucshon, both of whom have no prior history in blockchain-related legislation. However, the proposal received significant support, being unanimously approved by the House Energy and Commerce Committee on December 5 and receiving endorsements from entities such as the Chamber of Digital Commerce and the Blockchain Association.

While the proposal has found robust support, it has also faced resistance, especially from figures known for their skeptical stances toward cryptocurrencies, such as Representatives Sean Casten, Bill Foster, and Brad Sherman. The Blockchain Integrity Act, which proposes a temporary ban on cryptocurrency mixing services, was also an initiative led by Casten, along with Sherman and Foster, introduced in Congress on May 7 and still pending a vote.

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