After getting approval from the Committee on Energy and Commerce, the two bills about the blockchain study in government would now be sent to the House of Representatives for the <a href="https://cointelegraph.com/news/us-legislators-approve-bills-for-study-of-blockchain-in-commerce" target="_blank" rel="noopener">voting</a>. 

On September 09, the founder of the Chamber of Digital Commerce, Perianne Boring, mitigated an online debate. 
<h2>Committee On Energy And Commerce Approves Two Bill</h2>
In that debate, Darren Soto, Democratic Representative of Florida’s 9th District, notified that the Committee on Energy and Commerce has given its approval for the Digital Taxonomy Act, almost after two years. 

Soto further mentioned that the committee passed one more bill named American COMPETE Act in that debate.

According to the report, now the committee will move the bills to the US House of Representatives for the voting.

If Congress gives its approval for the Digital Taxonomy Act, then the Department of Commerce would have to start an analysis of blockchain technology’s different states. This study will be conducted in consultation with the Federal Trade Commission (FTC) and after it gets completed, the department would have to submit that report in the House of Representative and Senate.

The report further mentioned that the FTC would also have to submit a study of those digital assets which are unfair as well as involved in fraud activities.
<h2>Department Of Commerce To Sent Reports To Congress</h2>
As per the report, for the American COMPETE Act, the Department of Commerce would have to conduct an analysis of artificial intelligence, quantum computing, blockchain, and new related industries, later, that study would be sent it to Congress.

Soto, while talking about bills approval, said, “It’s the first step. We definitely want to get into more substantive legislation.”

But presently, the Department of Commerce, the FTC, the DoD and others would have to submit their reports to Congress as most of the people do not know how the technology works.

Soto is considered to be one of the most prominent people inside Congress who is involved in framing crypto policy. On many occasions, he has expressed that the US government does not know much about the technology and that is the reason the country could build a competitive environment for cryptocurrencies.
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US Legislators Passes Bill To Study Use Cases Of Blockchain In Commerce

The Committee on Energy and Commerce aprroves the two bills for blockchain study, now they would be sent to the House of Representatives for the voting.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

US Legislators Passes Bill To Study Use Cases Of Blockchain In Commerce

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