US Advocacy Group Calls for National Action Plan on Blockchain

The Chamber of Digital Commerce, a blockchain advocacy group, has called for the U.S. government to implement a national strategy for blockchain technology.

The organization released its recommendations for the plan on Wednesday, urging the government to promote and support the blockchain industry through clear and supportive public statements.

The U.S. government agencies should also coordinate with each other to develop blockchain policies, guidance and regulations.

"Other developed nations are promoting the adoption of blockchain and digital assets. It is imperative that the U.S. also recognize the power and potential of blockchain technology. We can either step forward as visionary leaders or risk falling behind."

The U.S. government should also create an office to coordinate on blockchain strategy, the chamber recommended, given the "Multi-tiered and multi-stakeholder structure of U.S. financial services regulation."

It argued that blockchain tech has potential to streamline processes across industries, including cybersecurity, financial services, healthcare, supply chain, and more, and that the lawmakers should reach out and cooperate with entrepreneurs in order to develop the national blockchain strategy.

Some U.S. lawmakers have already been making legislative efforts in the crypto and blockchain space.

In December, two more bipartisan bills were introduced aimed to prevent crypto price manipulation and to boost acceptance of blockchain technology.

Just last week, lawmakers in the U.S. state of Wyoming passed three bills related to blockchain and cryptos.

One bill is designed to recognize digital assets as property and clears the way for banks to act as crypto custodians, the others aim to enable securities to be issued in a tokenized form and create "Special purpose depository institutions" to enable blockchain businesses to access traditional banking services.