Congressional resolution: The U.S. government should formulate national policies to support blockchain technology

A new resolution sponsored by Indiana Republican Congressman Adam Kinzinger has been submitted to the U.S. House of Representatives, calling on the government to develop a national policy on emerging technologies, which would include digital currencies and blockchain technology.

The resolution invokes the idea of ​​bitcoin but does not mention it by name, instead calling it an “alternative fiat currency” and focusing on blockchain technology, noting that it has the potential to “fundamentally change” the way trust and security are established in online transactions.

Another co-sponsor of the nonbinding resolution is Rep. Tony Cardenas, D-Calif.

The resolution goes on to say that alternative currencies use technologies that improve security and increase the transparency of transactions, allowing financial institutions to replace their existing decades-old payment technologies.

It states:

“The United States should develop national policies that encourage the development of tools that help consumers learn and protect their assets in order to promote future economic growth and create new businesses and markets.”

The submission also encourages the U.S. government to promote alternative technologies to support "transparency, security and authentication," while calling on innovators to develop technologies that encourage consumer e-commerce.

The resolution was referred to the U.S. Energy and Commerce Committee, whose subcommittee held a hearing on bitcoin and blockchain technology earlier this year.

The introduction of this resolution also won praise from Jerry Brito, a Capitol Hill worker and executive director of the nonprofit Coin Center.

“The House resolution from Congressman Kinzinger shows that many members of Congress recognize that the federal government should adopt new policies to encourage blockchain innovation,” he told CoinDesk.

The resolution is reportedly due on July 14, not far from the 2016 U.S. presidential election. Therefore, neither the House of Representatives nor the Senate will convene before the first week of September.

Representatives for Cardenas were not immediately available for comment, and Rep. Kinzinger's office did not immediately respond to a request for comment.

The full resolution can be found in the coin repository: http://8btc.com/doc-view-738.html