A Call for U.S. Government to Support Blockchain

By Robin Wong | February 24, 2019
A Call for U.S. Government to Support Blockchain

The blockchain advocacy group dubbed Chamber of Digital Commerce has appealed to the government of the United States for a public statement in favour of blockchain technology, according to a press release (Feb 20).

The chamber urged that the U.S government give blockchain technology the “green light” due to its potential to facilitate and refine processes across sectors. Thus, the governmental agencies should collaborate with entrepreneurs to launch an office dedicated to the integration of a national distributed ledger strategy.

The proposal also propounded that lawmakers take a “light-touch regulatory approach” to enact blockchain policies, guidance and regulations, considering the now “multi-tiered and multi-stakeholder structure of U.S. financial services regulation.”

For the last few months, some U.S lawmakers have made some efforts in the crypto and blockchain regulation. Last year, three bills were introduced to advance the safety of blockchain technology. Previously this week, Wyoming regulators authorized three charters related to cryptocurrency, all of which are looking forward to be state-approved.

However, up to this time, the U.S. government’s viewpoint on cryptocurrencies has been dim, stated the chamber; therefore, there is a need for “clearly articulated statement of support for the private sector.”

As other developed nations are quick to adopt blockchain and digital assets, expressed the group’s founder and president Perianne Boring, “We [the U.S.] can either step forward as visionary leaders or risk falling behind.”

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