New Blockchain and Government Funding Bill Introduced in Congress
Congress has introduced the so-called “Christmas” stopgap bill, an agreement to fund the government so that it does not go on a long vacation during the holiday weekend. The document also contains a relatively new initiative related to cryptocurrencies. In general, the 1,547-page bill, which extends government funding until March 14, 2025, includes a bill called the Deploying American Blockchains Act. This measure will allow the US Department of Commerce to make recommendations on industry regulation and form a government-backed group of industry experts on Capitol Hill.
It should be noted that next year, the US is expecting many changes related to the regulation of the cryptocurrency market. At the end of November, it became known that the administration of newly elected President Donald Trump already wants to transfer leadership in regulating the cryptocurrency industry to the US Commodity Futures Trading Commission (CFTC).
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