U.S. Congress supports reforms to promote blockchain development

Rage Comment : The U.S. House of Representatives held several meetings on the development of blockchain technology, widely listened to the opinions of experts in the field, and conducted intense policy discussions on this basis. Last week, the House of Representatives finally issued a non-binding blockchain technology-related resolution, which aims to promote consumers to adopt financial tools and e-commerce, thereby promoting economic growth and consumer rights. This resolution has unprecedented fairness and is therefore of great significance to the development of relevant technical regulations in the United States. There will be more new progress in the Senate next.

Translation: Annie_Xu

The U.S. House of Representatives passed a non-binding resolution calling for a "national consumer technology adoption policy" for financial instruments and e-commerce to promote economic growth and consumer rights.

Reasons for growing interest

Federal regulations have made relatively little progress in the area of ​​blockchain technology and digital currencies. The nonprofit Coin Center expressed its concerns about the bill to U.S. government representatives. The relevant correspondence can be seen on the organization's website.

In July, the organization issued a statement calling on the U.S. government to formulate a corresponding national policy for emerging technologies, with cryptocurrency and blockchain technology being highlighted. The bill was proposed by Illinois Congressman Adam Kinzinger and supported by California Congressman Tony Cardenas.

Tony Cardenas

The House passed the resolution by voice vote after supporters spoke. The resolution is non-binding and therefore seen as a stopgap measure, but it represents a major step forward in the congressional discussion on blockchain and cryptocurrency.

The opening statement of the relevant resolution stated:

"The U.S. House of Representatives should adopt appropriate technology national policies to help consumers access financial tools and e-commerce, promote economic growth and consumer rights."

The move comes months after the House Committee on Energy and Commerce debated the art, and sources close to the technology said there is a lot of interest in the issue among House lawmakers.

Texas Congressman Michael Burgess said at the hearing:

"There is no doubt that blockchain innovation is at the forefront of the times."

Next Trend

We all look forward to the next steps in Congress, and we wonder whether there will be more legislative procedures for digital currencies and blockchain technology. The next agenda is scheduled after the US election in November.

The fairness of the current resolution may be an important indicator for the next round of Congressional legislation.