A new resolution submitted to the US House of Representatives calls for the development of âa national policy for technologyâ that would include digital currencies and blockchain technology.
It invokes the idea of bitcoin without calling it by name â referring to âalternative non-fiat currenciesâ â and blockchain tech, which it says has the potential to âfundamentally changeâ how trust and security are established in online transactions.
The non-binding resolution is sponsored by Representative Adam Kinzinger, a Republican from Indiana; and Representative Tony Cardenas, a Democrat from California, is co-sponsoring the bill.
The resolution goes on to say that alternative currencies are âleveraging technologyâ to improve security and increase transparency in ways that could allow them to supplant the âdecades-old payment technologyâ used by financial institutions.
It states:
âThe US should develop a national policy to encourage the development of tools for consumers to learn and protect their assets in a way that maximizes the promise customized, connected devices hold to empower consumers, foster future economic growth, create new commerce and new markets.â
The submission further encourages the US government to promote the advancement of alternative technologies that âsupport transparency, security and authenticationâ. At the same time, it calls for innovators to develop technologies that encourage consumer commerce.
The resolution was referred to the Committee on Energy and Commerce, which saw one of its subcommittees hold a hearing on bitcoin and blockchain tech earlier this year.
The resolutionâs introduction has won early praise from advocates of the technology who work on Capitol Hill, including Jerry Brito, executive director of the non-profit Coin Center.
âThe proposed House Resolution from Rep Kinzinger shows that many in Congress understand that the federal government should adopt policies that encourage blockchain innovations to flourish,â he told CoinDesk.
However, the timing of the resolutionâs introduction indicates that it may be some time before the Energy and Commerce Committee actually moves to address the measure.
The resolution was introduced on 14th July, just before Congress began a weeks-long recess ahead of the 2016 presidential election. Both the House and Senate wonât reconvene until the first week of September.
A representative for Rep Cardenas was not immediately available for comment when reached. Rep Kinzingerâs office did not immediately respond to a request for comment.
The full resolution can be found below:
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