Congressman: We Can't Let China Beat Us

The House of Representatives of the US Congress registered a bill, according to which the Federal Trade Commission (FTC) will have to carefully study the use of blockchain technology in various spheres of life.

If the committee passes this bill, the FTC will have 24 months to implement the recommendations, and then another six months to negotiate with Congress.

The author of the bill Brett Guthrie is actively advocating the adoption of the blockchain by both business and the state. He believes that it is very important to make a clear technology development plan and risk reduction strategies.

This is an extremely important and fundamental issue for the USA since its main geopolitical adversary PRC already has certain successes in this field.

“We cannot let China beat us,” he said in a press statement. 

Recall China is carrying tests of the national digital currency (DCEP) in full swing, the world's largest companies, such as McDonald’s are taking part.

“America is a nation of innovation and enterprise – and we need to keep it that way.” – he added.

The bill provided is a small part of the “technological” package of Republican bills.

Recently, it was reported that New York authorities issued the first crypto license this year. For 2019, the U.S. reviewed 32 bills to regulate cryptocurrencies. Also, Japan's largest payment system became interested in blockchain technology.

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