Bipartisan encryption bill passes US House of Representatives again

The U.S. House of Representatives passed two cryptocurrency bills on Tuesday evening.

The Consumer Safety Technology Act, sponsored by Rep. Jerry McNerny, D-Calif., would require the Consumer Product Safety Commission to establish a pilot program to explore use cases for AI in business. Two blockchain bills, the Blockchain Innovation Act and a portion of the Digital Taxonomy Act, direct the Secretary of Commerce and the Federal Trade Commission to study and report on the use of blockchain technology and digital tokens.

The Consumer Safety Technology Act was passed in the previous Congress and passed the House in September 2020, but was never approved by the Senate and died at the end of the session.

By reintroducing the bill and sending it to the Senate again, McEnany and his co-sponsors, including longtime blockchain supporter Rep. Darren Soto, D-Fla., are giving the bill a second chance.

The Blockchain Act is one of a series of bills that would provide regulatory clarity for the ownership and management of digital assets. Many in the cryptocurrency space have increasingly called for regulation, claiming that the lack of a legal framework stifles innovation.

Previous attempts to provide regulatory clarity, including Rep. Warren Davidson’s (R-Ohio) Token Taxonomy Act, first introduced in 2018, have failed to gain any meaningful traction.

Proponents of blockchain regulation worry that the U.S. risks falling behind other countries, including China, due to a lack of government guidance.

“Emerging technologies such as artificial intelligence, blockchain technology and cryptocurrencies are playing an increasingly important role in our daily lives and will become an economic driver of the 21st century economy,” Sotto said in a speech on Tuesday. “It is critical that the United States continue to be a global leader in these emerging technologies to ensure that our democratic values continue to be at the forefront of this technological development.”

Sotto said the Consumer Safety Technology Act is the first step toward a long-term goal of the congressional caucus to establish a center of excellence at the Commerce Department.

<<: Miner's Wanderings: In two months, I will be bankrupt

>>: El Salvador to install 1,500 Bitcoin ATMs

US bank regulator: Bitcoin regulation needs to balance innovation and risk control

Women who are prone to destroying other people's feelings, facial features analysis, which women are prone to being mistresses

Blog

Recommend

The face of a person with child abuse tendencies

A video has been going viral online recently, whi...

Physiognomy: Features of women who bring bad luck to their husbands and analysis of moles on women who are lucky in having children!

A woman who is unlucky in marriage will affect her...

Bipartisan encryption bill passes US House of Representatives again

US bank regulator: Bitcoin regulation needs to balance innovation and risk control

How to judge the fortune of a woman with a mole on her forehead

How to tell whether someone is blessed or not from their face? What kind of man is blessed?

The top ten characteristics of bad men summarized by face reading

Analysis of forehead lines

What are the requirements for a woman with a full forehead? What is the fate of a woman with a full forehead?

What face likes baked sweet potatoes the most?

Where is the mole of misery?

What are drunk eyes like?

Women who are prone to destroying other people's feelings, facial features analysis, which women are prone to being mistresses

Recommend

The face of a person with child abuse tendencies

Physiognomy: Features of women who bring bad luck to their husbands and analysis of moles on women who are lucky in having children!

It turns out that I didn’t understand mining pools before, and I actually lost so much mining income?

The face of a woman who doesn't like pleasure

The face of a woman tells you that the woman with this face has a rough fate.

The impact of bad teeth on your fortune

Bitcoin Unlimited is ready? Roger Ver's tweet leaves the Bitcoin community baffled

El Salvador Congress approves $150 million Bitcoin Trust

Life expectancy based on facial features

What does it mean when the lifeline of both hands is broken?

Filecoin launches new network Calibration and enters a two-week "calibration period"

Palm lines that easily attract villains

Observation | Elon Musk's cryptocurrency war

How to remedy your face and increase your luck

Is it good for a man to have a high forehead?