In line with a recent official report by ‘CNET’, the U.S. Senate committee of commerce, science & transportation approves the Blockchain Promotion Act yesterday i.e. on 11th July.
The bill, revealed by the reporting media, brings U.S. nearer to a blockchain definition at the federal level and establishes a [blockchain] working group among the Department of Commerce. Members of the working group ought to be representatives of federal agencies that might use blockchain and non-governmental stake-holders.
Non-governmental participants will embrace data and communication technology manufacturers, suppliers, software providers, service suppliers, vendors, and experts.
Within one year from its establishment, the working group is to submit a report to Congress recommending a definition of blockchain.
Moreover, the report should conjointly recommend analysis to be conducted on DLT [Distributed Ledger Technology] impact on electro-magnetic policy, alternative potential applications, and specifically attainable uses by the federal agencies.
As earlier today, U.S. President ‘Donald Trump’ voiced his ‘opposition‘ to cryptocurrencies, citing Bitcoin and Libra mainly, within a series of tweets published yesterday.
googooIt has been revealed just last month that the U.S. House Financial Services Committee are expected to hold a ‘hearing‘ on the Facebook’s upcoming stablecoin project referred as ‘Libra’ later on 17th July, this year.