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The U.S. Advocacy Group Demands National Action Plan On Blockchain Technology

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The-U.S._Advocacy-Group-Demands-National-Action-Plan-On-Blockchain-Technology The U.S. Advocacy Group Demands National Action Plan On Blockchain TechnologyThe Chamber of Digital Commerce, an American advocacy group that promotes the emerging industry behind Blockchain Technology, and digital assets, on Wednesday, has asked the U.S. government to employ a national strategy for Blockchain technology. The advocacy group has also requested the government to encourage and support the industry related to the technology through clear and supportive public statements.

The group said that most of the U.S. government’s public statements on Cryptocurrencies were in the form of warnings and enforcement actions, so far. But now, there is a need for a clearly effective and expressive statement of support for the private sector on Blockchain for the benefit of the government, business, and consumers. Additionally, government agencies should also work together to create policies, guidance, rules, and regulations related to technology. Further, there should be a light-touch regulatory approach and the industry must have transparent on what laws apply to Blockchain-based applications and digital tokens. The advocacy group also suggested the U.S. government develop an office for coordinating on Blockchain strategy. Similarly, they argued that technology has the potential to streamline processes around the industries of Cybersecurity, financial services, supply chain, healthcare, and more. They said that the lawmakers should reach out and cooperate with entrepreneurs in order to develop the national Blockchain strategy.

On this take, some U.S. lawmakers have already been making legislative efforts in the Crypto and Blockchain space. In October last year, a bipartisan bill was introduced that proposes the creation of a consensus-based definition of the technology. Two more bipartisan bills, in December, were introduced that aimed to put off Crypto price manipulation and to enforce acceptance of Blockchain technology. And, lawmakers in the U.S. state, just last week, passed three bills related to Blockchain and Cryptos.