The bi-partisan H.R. 835 was introduced by Rep. Adam Kinzinger and co-sponsored by Rep. Tony Cardenas. Its preamble cites bitcoin and blockchain innovation:
Whereas emerging payment options, including alternative non-fiat currencies, are leveraging technology to improve security through increased transparency and verifiable trust mechanisms to supplant decades old payment technology deployed by traditional financial institutions; and
Whereas blockchain technology with the appropriate protections has the potential to fundamentally change the manner in which trust and security are established in online transactions through various potential applications in sectors including financial services, payments, health care, energy, property management, and intellectual property management
It then calls for “a national policy to encourage the development” to encourage these technologies and their use.
It’s important to note that a House Resolution, if passed, only sets forth the sense of the House of Representatives (and not necessarily the Senate) about what kind of policy the federal government should adopt, either through future legislation or through agency rule-making. It’s not binding and it’s not specific, but it is a good way for the House to communicate in what direction it would like to see government policy move.
The proposed House Resolution from Rep. Kinzinger shows that many in Congress understand that the federal government should adopt policies that encourage blockchain innovations to flourish. That means a national fintech charter from the Office of the Controller of the Currency, as well as smart treatment of cryptocurrencies by the SEC, CFTC, FinCEN, and others.