(BlockBar) Advisor to President Donald Trump has been urged by a group of US lawmakers to include blockchain on their list of emerging technology initiatives. The bipartisan letter was spearheaded by the US Representatives Trey Hollingsworth (R.-IN) and Darren Soto (D.-FL). The letter asks the National Economic Council to host a forum on the nascent technology, and to include blockchain on a list of technologies that the Trump Administration will promote.
The letter, dated May 24 and publicly released on Wednesday, was also signed by U.S. Reps. Bill Foster (D.-WI), Tom Emmer (R.-MN), Ted Budd (R.-NC), Josh Gottheimer (D.-NJ) and David Schweikert (R.-AZ) in addition to Hollingworth and Soto
The lawmakers said “more can be done” to support the technology in the US,. The letter specifically cites the fact that blockchain tools and other implied cryptocurrency projects are being governed by decades-old laws, “and a lack of regulatory clarity may be dampening investment.” Government agencies within the United States are exploring blockchain technology in multiple ways,” says the letter which was addressed to Larry Kudlow. It is to be noted that Larry Kudlow is a financial analyst and former CNBC host.
The letter also says: “To continue its standing as a world leader in technological innovation, the United States should engage with policymakers, the private sector, and academia to promote the research and development of blockchain technology; explore its benefits for private and public use; collaborate on cross-sectoral policy, standard-setting, scalability, and implementation issues; and discuss potential regulatory approaches.”
A member of the House Energy and Commerce Committee Soto stated that “blockchain has the profound potential to benefit society and be a driver of economic growth.” “It is crucial we continue to be informed on new initiatives and educate Congress and other government agencies on the impact of these emerging technologies,” he said.
It is to be noticed that The National Economic Council is a presidential advisory group that focuses on economic initiatives. It was formed in 1993 and the group is tasked not only with advising the president’s economic policy but also help advancing his goals.