U.S. Lawmaker Introduces Bill for National Blockchain Strategy

U.S. Lawmaker Calls for National Blockchain Strategy to Combat China’s Dominance

In a move to ensure American leadership in technology and innovation, U.S. House Rep. Brett Guthrie (R-KY) has introduced a bill urging the Federal Trade Commission (FTC) to develop a national blockchain strategy. The bill, HB6938, aims to survey the prevalence of blockchain technologies across various sectors and provide recommendations for state-level adoption, risk mitigation, and legislative frameworks.

With no cosponsors at the time of referral to the House Energy and Commerce Committee, Guthrie’s bill highlights the urgency of staying ahead of China in the blockchain race. China has been aggressively pursuing state-sponsored blockchain initiatives, including the recent launch of the Blockchain Services Network and testing of its digital yuan.

Guthrie emphasized the importance of maintaining American leadership in technology, especially in the wake of the COVID-19 pandemic. He stated, “We cannot let China beat us. America is a nation of innovation and enterprise – and we need to keep it that way.”

The proposed FTC survey would also provide insights into other countries’ blockchain strategies, such as Germany’s, to help inform U.S. policymakers. The bill is part of a broader legislative package by House Republicans aimed at promoting emerging technologies and ensuring American competitiveness in the global market.

As the race for blockchain dominance heats up, Guthrie’s bill underscores the need for a comprehensive national strategy to harness the potential of blockchain technology and secure America’s position as a leader in the digital economy.