U.S. Members of Congress call upon Presidential Advisor to promote blockchain technology

In a letter to the Director of the National Economic Council (NEC), seven Members of the U.S. Congress have requested to include blockchain technology in Trump Administration’s initiatives on emerging technologies.

Established in 1993, the National Economic Council is primarily tasked with advising the President of the United States on domestic and global economic policy. It resides within the Office of Policy Development and is part of the Executive Office of the President.

Led by Congressman Trey Hollingsworth, the letter was supported by the members of the Congressional Blockchain Caucus including Darren Soto, Bill Foster, Tom Emmer, Ted Budd, Josh Gottheimer and David Schweikert.

“Blockchain has the profound potential to benefit society and be a driver of economic growth,” said Rep. Darren Soto. “It is crucial we continue to be informed on new initiatives and educate Congress and other government agencies on the impact of these emerging technologies. I’m proud to take bipartisan action in promoting blockchain.”

The letter, addressed to the NEC Director Lawrence Kudlow, puts forth a request to hold a blockchain forum and include the technology “in the initiatives the Administration intends to promote on emerging technologies.”

Further noting blockchain technology’s nascent stage and lack of regulatory clarity therein, the letter underscores the importance of supporting the ongoing advancements by “connecting all the relevant stakeholders to examine the policy issues facing the industry and building support for a shared vision that can boost innovation and ensure that we reap the full benefits of its development.”

“As such, we strongly urge the Administration and the National Economic Council to convene a forum for stakeholder input and support this emerging technology through its inclusion in its efforts to promote ‘investments in the cutting-edge industries of the future’,” it added.