Congress Re-launches Bipartisan Blockchain Caucus

On January 30, 2017, Coin Center hosted a reception with “well over 100 policy makers, congressional and agency staff, and digital currency and blockchain industry leaders” on Capitol Hill to announce the re-launch of the Congressional Blockchain Caucus co-chaired by Rep. Jared Polis (D-Colo.) and Rep. David Schweikert (R-Ariz.). According to Coin Center, “the reception marked the first of what will be a full calendar of educational and networking events for the growing number of policymakers that are interested in learning more about the intricacies of these technologies and the at times arcane policy questions that they raise.” Coin Center will participate in the first event, an education session, later this month.

Generally, congressional caucuses are informal groups of legislators with a common interest or issue. The Blockchain caucus will educate and provide resources for lawmakers to use in drafting blockchain-based regulations. Rep. Polis, an early supporter of virtual currency and blockchain, continues to be a supporter of the technology and its potential impact on various industries:

“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 re-formation of this caucus signals Congress’ continued interest in drafting informed, meaningful blockchain technology legislation.