Washington has developed a caucus focusing on creating rational policies for cryptocurrencies and blockchain technology.
Representatives Mick Mulvaney (R- S.C.) and Jared Polis (D-Colo) joined forces with Coin Center to create the bipartisan Congressional Blockchain caucus. Coin Center, a nonprofit working to improve policies towards blockchain technology, has been actively educating the two congressmen over the past two years on the potential of cryptocurrencies and blockchain technologies, such as Bitcoin and Ethereum.
Polis has been a major supporter of cryptocurrency and blockchain. Back in 2014, he became one of the first politicians to accept virtual currency for campaign donations. Later, he pledged to protect bitcoin and other virtual currencies from any destructive policies.
Recently, Washington has acknowledge the capabilities that the revolutionary technology have to offer. Earlier this month, the House of Representatives passed a bipartisan resolution (H.R. 835) recognizing the significance blockchain technology will have on the country’s future.
The formation of the caucus can only better educate lawmakers into developing logical policies and resolutions that will be beneficial for all of us.
Read the full announcement below from Coin Center:
Bipartisan Blockchain Caucus formed in Congress
We applaud the creation of a caucus dedicated to the development and advancement of sound [public] policy toward cryptocurrencies and other blockchain-based technologies.
BY JERRY BRITO / September 26, 2016
Today we’re happy to let you know that Rep. Mick Mulvaney (R-SC) and Rep. Jared Polis (D-CO) announced the formation of the new bipartisan Congressional Blockchain Caucus dedicated to the advancement of sound public policy toward cryptocurrencies and other blockchain-based technologies.
For the past two years we have worked with Representatives Mulvaney and Polis to educate their colleagues through briefings, hearings, and other events, and the Congressional Blockchain Caucus will be a wonderful new platform to continue these efforts. Their forward-thinking leadership on blockchain technology in Congress is unmatched.
Congressional caucuses are very important for like-minded members of congress to work together toward common policy goals. We are very excited by the formation of the Congressional Blockchain Caucus and look forward to continuing to work with its members to chart a path forward with the same type of light-touch regulation from which the early Internet benefited just a few decades ago.
Rep. Mulvaney had this to say:
I’m excited to partner with Congressman Polis to found the Congressional Blockchain Caucus. Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy, and the delivery of government services, and I am proud to be involved with this initiative on the ground floor. Coin Center has been an invaluable resource to help educate me and others on the inter-workings, importance of, and issues facing cryptocurrencies and blockchains. I look forward to continuing my partnership with Coin Center, and developing relationships with other groups involved in this initiative. I encourage Members of Congress to join the caucus and get involved as blockchain technology becomes more widely used across communities and companies.
And Rep. Polis said:
The blockchain has boundless potential. From cryptocurrencies to supply chains to banking to property titling, blockchain-based solutions have the ability to decentralize cybersecurity and revolutionize many industries. It's vital for Americans, businesses, and members of Congress to learn about blockchain technology so the U.S. can continue to secure its stance as the global leader of ingenuity. The Blockchain Caucus will focus on raising awareness, advancing ideas that foster growth, and safeguarding consumers. I'm excited to work alongside Rep. Mulvaney, and I look forward to all that we'll accomplish.