Deploying American Blockchains Act of 2023

House Bill 6572 - Deploying American Blockchains Act of 2023: Overview, Status, and Impact

Hozzl · 2024-06-11T16:07:06Z

Explore the details of House Bill 6572 Deploying American Blockchains Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

6/11/2024, 4:07 PM

Congressional Summary of HR 6572

Deploying American Blockchains Act of 2023

This bill requires the Department of Commerce to support the leadership of the United States in the use of blockchain technology and other distributed ledger technology, tokens, and tokenization. Generally, blockchain technology is a distributed digital ledger that uses cryptography to share verified information across a network of computers. Tokens refer to the transferrable, digital representation of information recorded on blockchain technology and tokenization is the process of creating a token.

Specifically, Commerce must advise the President on policies related to the deployment and use of blockchain technology and other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization. Commerce also must establish advisory committees to support the adoption of blockchain technology to facilitate the development of best practices with respect to blockchain technology, applications built on blockchain technology, tokens, and tokenization.

Commerce must report annually on the activities under this bill and provide any recommendations for additional legislation to strengthen U.S. competitiveness with respect to blockchain technology.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 6572

Bill HR 6572 is currently in the status of Bill Introduced since December 4, 2023. Bill HR 6572 was introduced during Congress 118 and was introduced to the House on December 4, 2023. Bill HR 6572's most recent activity was Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation. as of May 16, 2024

Bipartisan Support of Bill HR 6572

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6572

Primary Policy Focus

Commerce

Potential Impact Areas

- Advanced technology and technological innovations

- Advisory bodies

- Broadcasting, cable, digital technologies

- Computer security and identity theft

- Computers and information technology

- Congressional oversight

- Digital media

Alternate Title(s) of Bill HR 6572

Deploying American Blockchains Act of 2023

To direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.