• Tue, 23 Jul 2019, 04:56 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
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. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,243.00 (-3.33%)
  • Ethereum (ETH) $216.77 (-3.87%)
  • XRP (XRP) $0.319400 (-3.24%)
  • Litecoin (LTC) $94.13 (-4.85%)
  • Bitcoin Cash (BCH) $310.46 (-2.97%)
  • Bitcoin (BTC) $10,243.00 (-3.33%)
Jul 23, 2019 (Tuesday)
04:45
Uganda looks to blockchain in counterfeit drug battle
04:05
UK lawmaker who busted Facebook-Cambridge Analytica scandal sets sights on Libra crypto
03:47
Singapore-based Forise International expands to blockchain consulting
03:41
Mercedes-Benz' parent company Daimler partners with Riddle & Code to develop crypto hardware wallet for cars
03:26
Binance lists GBP-backed stablecoin 'BGBP'
Jul 22, 2019 (Monday)
12:20
Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely
12:20
Former Token Foundry head begins process to sue Joseph Lubin for $13M
11:39
Blockchain firm R3 pushes for more Corda sales with new hire
11:26
South Korean citizen unaffiliated to Samsung files trademark application for 'Samsung Coin'
10:46
Former Russian crypto executive arrested in Italy
09:19
Blockchain startup Diana to launch 'lunar registry' to divide and tokenize the moon
08:39
Crypto Technicals: ETC/USD confirms 'Golden Cross' on hourly charts, eyes 21-EMA at 6.722
07:46
Iran finalizes power tariff scheme for crypto miners but no license for importing mining equipment yet
07:42
Crypto firm FairX closes digital doors due to lack of funding
06:34
Thailand shows less hostility towards Libra compared to other countries
06:23
European Central Bank official says calm down about stablecoin
05:42
No official ban on cryptocurrency yet, Indian Minister clarifies
05:16
Electric firm E.ON applies patent for blockchain-based data collector device
05:02
Accounting giant KPMG partners with Microsoft, TOMIA, and R3 for blockchain-based telecom solutions
04:06
Fidelity Digital Assets applies for trust license in New York: Report
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft