“It establishes the ‘Blockchain Application Program’ and creates advisory committees consisting of federal agencies, blockchain industry stakeholders, and experts, with the aim of overseeing the use, implementation, and competitive conditions of blockchain technology.”

Cody Carbone, the president of the Chamber of Digital Commerce, stated on his official Twitter account that this step “will help maintain the United States’ leadership in blockchain technologies and that this is a critical need.” Kristin Smith, CEO of the Blockchain Association, emphasized that the bill would enhance the competitive strength of the United States in this emerging field.

The bill includes various measures to support the adoption of the technology and aims to coordinate among federal agencies interested in embracing blockchain technology. Assessments will be made regarding the current use of blockchain technology within federal agencies, determining their readiness for future adoption.

It’s anticipated that this bill will contribute to maintaining the United States’ leadership in the field by encouraging widespread adoption of blockchain technology. The next step involves the bill being voted on in the U.S. House of Representatives, and if passed, it will move to the Senate and then require approval from the President to become law.

Feel free to share your thoughts on the topic in the comments. Besides, don’t forget to follow us on Telegram, YouTube, and Twitter for more analysis and updates.

The post The Expected Legislation by the United States Has Been Approved! appeared first on Coin Engineer.