H.R.1664 - Deploying American Blockchains Act of 2025 (119th Congress)
Summary
H.R.1664, the Deploying American Blockchains Act of 2025, directs the Secretary of Commerce to promote the competitiveness of the United States in blockchain technology and other distributed ledger technologies. This includes developing policies, supporting the stability and security of these technologies, and encouraging coordination among federal agencies. The Act also mandates the establishment of advisory committees and regular reports to Congress on the progress and emerging risks associated with blockchain technology.
Expected Effects
The Act aims to position the US as a leader in blockchain technology by fostering innovation and adoption across various sectors. It will likely lead to increased investment in blockchain-related businesses and research, as well as greater integration of blockchain solutions within federal agencies. The establishment of advisory committees will provide a platform for collaboration between government, industry, and academia.
Potential Benefits
- Economic Growth: Encourages investment and job creation in the blockchain sector.
- Innovation: Fosters the development and deployment of new blockchain applications.
- National Security: Enhances the security of federal systems and critical infrastructure through blockchain technology.
- Efficiency: Streamlines government processes by utilizing blockchain for data management and authentication.
- Competitiveness: Improves the United States' standing in the global blockchain market.
Potential Disadvantages
- Regulatory Uncertainty: The rapid pace of technological development may outstrip the ability of regulators to keep pace, creating uncertainty for businesses.
- Security Risks: Despite efforts to enhance security, blockchain technologies are still vulnerable to cyber threats.
- Complexity: The technical complexity of blockchain may limit its accessibility and adoption by smaller businesses and individuals.
- Centralization Concerns: Over-reliance on specific blockchain platforms or providers could lead to centralization and control issues.
- Potential for Misuse: Blockchain technology could be used for illicit activities, such as money laundering or fraud.
Constitutional Alignment
The Act appears to align with the Constitution's broad mandate to "promote the general Welfare" (Preamble). Specifically, Congress's power to regulate commerce (Article I, Section 8, Clause 3) provides a basis for promoting the competitiveness of the United States in blockchain technology. The Act does not appear to infringe on any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).