Facebook X (Twitter) LinkedIn Telegram
    • About
    • Advertise
    • Submit Press Release
    • Contact
    Facebook X (Twitter) LinkedIn Telegram
    BlockonomiBlockonomi
    • Prices
      • All Coins
      • Bitcoin Price
      • Ethereum Price
      • Ripple Price
      • EOS Price
      • Litecoin Price
      • Monero Price
      • Binance Coin Price
      • Bitcoin Cash Price
      • Chainlink Price
      • Cardano Price
      • Stellar Price
      • Tron Price
    • Sections
      • All
      • Analysis
      • Bitcoin
      • Ethereum
      • Education
      • Trading
      • Buying
      • DeFi
      • NFTs
      • Metaverse
      • Exchanges
      • Brokers
      • Guides
      • Gaming
      • Privacy
      • Business
      • Finance
      • Fintech
      • Regulation
      • Security
    • Claim Free Crypto!
    • Gamble With Crypto!
    • Easily Buy Crypto!
    Home / About / Advertise / Submit Press Release
    BlockonomiBlockonomi
    News

    Bipartisan Congressional Group Wants Trump Admin to Boost Blockchain

    William M. PeasterBy William M. PeasterMay 31, 2019No Comments4 Mins Read
    Telegram Twitter LinkedIn WhatsApp Facebook Email
    US Congress Crypto Bill
    Share
    Facebook Twitter LinkedIn Email Telegram WhatsApp

    A group of congressmen from the U.S. House of Representatives has written a letter to Larry Kudlow, an economic policy adviser to President Donald Trump as director of the National Economic Council (NEC), asking him to make blockchain a focus for President Trump’s administration.

    Specifically, the bipartisan delegation, which was headed up by Republican Rep. Trey Hollingsworth of Indiana and Democratic Rep. Darren Soto of Florida, asked Kudlow to “request the Administration […] hold a forum on blockchain technology and include blockchain technology in the initiatives the Administration intends to promote on emerging technologies.”

    US Congress Crypto Bill

    Notably, all of the letter’s seven signers — the others being Rep. Budd (R-NC), Rep. Tom Emmer (R-MN), Bill Foster (D-IL), Rep. Josh Gottheimer (D-NJ), and Rep. David Schweikert (R-AZ) — are members of the Congressional Blockchain Caucus, a voluntary House group created in 2016 that’s focused around exploring the potential of blockchain use cases in America.

    In writing to Kudlow at the NEC, the caucus is hoping to take make their case as close to President Trump as possible. The NEC was created in the early 1990s as a top forum for helping presidents consider economic policy making.

    The representatives told Kudlow in their letter that leaders in the U.S. could do more to provide top-down clarity and coordination for America’s hitherto dense blockchain sector:

    “Government agencies within the United States are exploring blockchain technology in multiple ways. More can be done, however, to coordinate support for this technology in the United States. Laws dating back decades are proving difficult to apply to emerging technologies, and a lack of regulatory clarity may be dampening investment. To continue its standing as a world leader in technological innovation, the United States should engage with policymakers, the private sector, and academia to promote the research and development of blockchain technology.”

    It’s not the first time members of the Congressional Blockchain Caucus have sent out a call-to-action, either.

    In the summer of 2017, the caucus’s leadership wrote a letter to the U.S. Internal Revenue Service (IRS) asking for further official guidance on how cryptocurrencies were taxed in the country. The group may be getting its wish after all, as the IRS said earlier this month the agency would be releasing more crypto guidance shortly.

    Last fall, the caucus’s Rep. David Schweikert also introduced two blockchain-centric bills in the House. The first one, a resolution dubbed H.Res. 1108, called for further blockchain research and a pro-innovation regulations in the U.S. The second one, H.R. 7002, would clarify the “applicability of blockchain to electronic records, electronic signatures, and smart contracts.”

    Blockchain a Topic on the Rise in U.S. Political Arena

    The regulatory environment around blockchain tech in the U.S. is currently conflicted at worst and ambiguous at best.

    That dynamic has chilled innovation and business to date, but now politicos running for the highest office in the land — the White House — are committing to bring clarity America’s nook of the cryptocurrency ecosystem.

    The most notable of these 2020 presidential candidates to embrace crypto so far have been Andrew Yang and Rep. Eric Swalwell (D-CA).

    Yang, an entrepreneur, has made an early name for himself this election season thanks to his maverick positions on subjects like universal basic income and cryptocurrencies, the latter of which Yang wants more clarity on. “It’s time for the federal government to create clear guidelines as to how cryptocurrencies … will be treated,” his crypto policy page reads.

    As for Rep. Swalwell, he announced last week that he had begun accepting cryptocurrency donations to back his 2020 campaign effort and said he supported “the use of cryptocurrency to empower the people.”

    It remains to be seen whether Yang or Rep. Swalwell can go the distance. But so long as a lack of regulatory clarity reigns in America, crypto companies operating here will have to move forward cautiously.

    Advertise Here
    William M. Peaster
    • Website
    • X (Twitter)
    • Instagram
    • LinkedIn

    William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster

    Related Posts

    EOS Network – An Enterprise-Grade Blockchain Operating System

    November 29, 2023

    Former OneCoin Compliance Chief Pleads Guilty to Fraud and Money Laundering

    November 10, 2023

    After The SBF Verdict, Where Does the Crypto Market Go Next?

    November 4, 2023

    Comments are closed.

    Coinbase Earn
    Advertise Here
    Gambling
    • mBit Casino
      VisitReview
    • BC Game
      VisitReview
    • Duelbits
      VisitReview
    • BitcoinCasino
      VisitReview
    • FortuneJack
      VisitReview
    • 1xBit
      VisitReview
    Exchanges
    • KuCoin
      VisitReview
    • Coinbase
      VisitReview
    • Binance
      VisitReview
    • PrimeXBT
      VisitReview
    Koinly
    Advertise Here
    Trading Bots
    • 3Commas
      VisitReview
    • Cryptohopper
      VisitReview
    • CoinRule
      VisitReview
    3commas Trading Bot
    Advertise Here
    All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.
    Blockonomi™ Copyright © 2017 - 2023 Kooc Media Ltd. All rights reserved. Registered Company No.05695741
    Network: Moneycheck - Finance News / Beanstalk - NFT & Metaverse News
    • About
    • Contact
    • Deals
    • Advertise
    • Privacy Policy
    • Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.