U.S. Lawmakers Propose Resolution Supporting Blockchain And Digital Assets

According to Odaily, bipartisan members of the U.S. House of Representatives have introduced a resolution backing blockchain technology and digital assets. The proposal was announced by Dusty Johnson, Chair of the House Agriculture Committee's Subcommittee on Commodity Markets, Digital Assets, and Rural Development, along with Ranking Member Don Davis, Bryan Steil, Chair of the House Financial Services Committee's Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, and Ranking Member Ritchie Torres. The resolution highlights the economic potential of digital assets, the necessity for regulatory clarity, and the role of blockchain in enhancing transparency and efficiency. It warns that without clear regulations, the U.S. risks losing its innovative edge to countries with more defined legal frameworks. Following the resolution's introduction, lawmakers emphasized the urgency of regulatory action. Johnson stated, "Currently, developers face uncertainty due to gaps in the commodity and securities regulatory frameworks." He elaborated, "Digital assets need a regulatory framework to thrive in the U.S. I look forward to working with Representative Steil to bring more clarity to digital assets." Steil agreed, noting, "Digital assets have immense untapped potential. I am pleased to formally recognize with Congressman Johnson the need for Congress to take meaningful action to establish a regulatory environment that fosters innovation, protects consumers from fraud, and encourages the development of American digital asset technology." Additionally, Davis highlighted the transformative power of blockchain, stating, "Blockchain technology and digital assets will revolutionize industries, enhance our financial system, and provide equitable financial service opportunities for everyone." Torres also emphasized, "Blockchain technology and digital assets represent the future of innovation, economic growth, and financial inclusion."