• Sat, 25 May 2019, 03:11 PM
  • All times are UTC
  • Edition:
Link copied

US lawmakers introduce new bill to establish common definition of blockchain

Fri, 05 Oct 2018, 11:04 am UTC

US lawmakers have recently introduced a bipartisan bill to the House of Representatives that seeks to establish “a consensus-based definition of blockchain,” CoinDesk reported.

Congresswoman Doris Matsui and Congressman Brett Guthrie have introduced H.R. 6913, the “Blockchain Promotion Act of 2018” in September. If passed, it would establish a working group, comprising of stakeholders across the federal government and private sector, to establish a common definition of blockchain.

According to the bill text:

“Not later than 90 days after the date of the enactment of this Act, the Secretary of Commerce shall establish within the Department of Commerce a working group to be known as the ‘‘Blockchain Working Group’’.

The working group will be required to submit a report that contains a recommended definition of the distributed ledger technology or blockchain technology. In addition, the report should also include recommendations on a study on the impact of blockchain technology on electromagnetic spectrum policy; potential blockchain applications including non-financial; and opportunities within Federal agencies to use the technology.

“Blockchain technology could transform the global digital economy. Opportunities to deploy blockchain technology ranges from greatly increased transparency, efficiencies and security in supply chains to more-opportunistically managing access to spectrum,” said Congresswoman Matsui.

“This bipartisan bill will bring a broad group of stakeholders together to develop a common definition of blockchain, and, perhaps even more importantly, recommend opportunities to leverage the technology to promote new innovations. I am pleased to work with Congressman Brett Guthrie on this effort.”

This follows an announcement from US Congressman Tom Emmer last month regarding his plans to introduce three bills to support blockchain technology and cryptocurrencies.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,059.77 (+0.18%)
  • Ethereum (ETH) $252.39 (-0.01%)
  • XRP (XRP) $0.388100 (-0.28%)
  • Bitcoin Cash (BCH) $409.14 (-1.77%)
  • Litecoin (LTC) $101.80 (+2.61%)
  • Bitcoin (BTC) $8,059.77 (+0.18%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.