The Committee on Energy and Commerce has just canonical two pieces of legislation to spur more than in-depth analysis of blockchain engineering in government, clearing the way for their vote in the House of Representatives.

In an online debate moderated by Chamber of Digital Commerce founder Perianne Slow on Sept. nine, Autonomous Representative of Florida's 9th District Darren Soto announced that later on "most 2 years of pushing," the Committee on Free energy and Commerce had passed the Digital Taxonomy Deed. In addition, the committee approved the American COMPETE Act. Both pieces of legislation volition now go to the master floor of the U.South. House of Representatives for a vote.

The Digital Taxonomy Act, if passed in Congress, would instruct the Section of Commerce in consultation with the Federal Trade Commission (FTC) to bear and submit a study on the state of blockchain technology to various committees in the House of Representatives and the Senate. It would also require the FTC to report on recommendations regarding unfair and deceptive practices related to digital tokens.

The American COMPETE Act would crave the Department of Commerce to review this study and report to Congress on the state of artificial intelligence, breakthrough computing, blockchain, and new related industries.

"It's a starting time step," said Soto, who sponsored the outset bill with Rep. Brett Guthrie (R-KY) and Rep. Doris Matsui (D-CA). "We definitely want to get into more than noun legislation. Just for right at present the appropriations and getting the first reports done by the Department of Commerce, the FTC, the DoD, and others are going to acclimate Congress because a lot of folks don't sympathize the applied science.

Soto is i of the main figures shaping crypto policy inside of Congress. He has often expressed concern that the U.Southward. regime's lack of agreement of emerging technology is belongings the land back from building a competitive cryptocurrency sector.

"That'due south our biggest obstruction. It's not partisanship — it's ignorance that we battle against. These reports familiarize everybody."

However, the congressman besides cited a few legislative victories. In Baronial, the U.S. Department of Agriculture proposed amending its rules on organic products to include implementing blockchain applied science to trace its supply chain. Soto besides joined several other members of Congress to request the IRS not overtax rewards from Proof-of-Stake blockchains.

"Nosotros have long-term goals working with the digital chamber to go a cryptocurrency center of excellence in the Section of Commerce to really aid work on the diverse unlike ways blockchain can exist utilized," said Soto. "Whether it's in fiscal transactions, keeping communications secure, whether it'due south keeping data secure."

Soto practices what he preaches. The congressman also announced that he would be accepting crypto campaign contributions. His website currently shows the choice to surrender to $ii,800 using BitPay.