In a landmark development, the United States House of Representatives has passed the Deploying American Blockchains Act of 2023, a bipartisan bill aimed at promoting the competitiveness of the United States in blockchain technology and distributed ledger technology. The bill, approved by a margin of 334 to 79, directs the Secretary of Commerce to take necessary actions to promote blockchain technology and establishes the Secretary as the principal presidential adviser on blockchain.

The passage of the bill is a significant step forward for the blockchain industry, which has been rapidly evolving in recent years. The bill's provisions will help promote the competitiveness of the United States in this field, and its impact will be felt across various sectors, including finance, supply chain management, and cybersecurity.

The Deploying American Blockchains Act of 2023 is the result of a collaborative effort between Representatives Lisa Blunt Rochester and Larry Bucshon, who introduced the bill. The bill has received endorsement from the Chamber of Digital Commerce and Blockchain Association, and its passage is a testament to the growing recognition of the potential of blockchain technology in the United States.

The bill gives the Secretary of Commerce several responsibilities, including policy development, research, and promotion of blockchain technology. It also mandates the formation of an advisory committee comprising governmental, industry, academic, and cultural representatives to present an annual report to Congress. This committee will play a crucial role in shaping the country's blockchain policy and ensuring that the United States remains at the forefront of innovation in this field.

The passage of the bill is also significant because it comes at a time when the crypto community is awaiting the House vote on the Financial Innovation and Technology for the 21st Century (FIT21) Act. The FIT21 Act is a comprehensive bill that aims to provide a regulatory framework for cryptocurrencies and other digital assets. While the FIT21 Act is still pending, the passage of the Deploying American Blockchains Act of 2023 is a positive development that shows the growing support for blockchain technology in the United States.

The bill's opponents, including crypto skeptics Sean Casten, Bill Foster, and Brad Sherman, had introduced the Blockchain Integrity Act, which would ban the use of crypto mixing services for two years. However, the Deploying American Blockchains Act of 2023 is a more forward-looking bill that recognizes the potential of blockchain technology and seeks to promote its development and adoption in the United States.

The passage of the bill is a significant step forward for the blockchain industry, and its provisions will help promote the competitiveness of the United States in this field. The bill will now go to the Senate for consideration, and its fate will be closely watched by the crypto community. If passed, the bill will be a major milestone in the development of blockchain technology in the United States and will pave the way for further innovation and growth in this field.

The passage of the Deploying American Blockchains Act of 2023 is a significant development that shows the growing support for blockchain technology in the United States. The bill's provisions will help promote the competitiveness of the country in this field, and its impact will be felt across various sectors. The crypto community will be closely watching the bill's progress in the Senate, and its passage will be a major milestone in the development of blockchain technology in the United States.