Among Blockchain Caucus members, Sen. Bernie Moreno to introduce bipartisan legislation to strengthen blockchain technology. The proposed legislation seeks to establish a "National Blockchain Deployment Advisory Committee" within the Commerce Department, enhancing the Commerce Secretary's advisory role on blockchain-related matters. It mirrors a similar House bill championed by Reps. Kat Cammack and Darren Soto, both focused on fostering the development of blockchain technology.
Under the new bill, a second program—a “Blockchain Deployment Program”—would be housed within the Commerce Department. Prior to coming to Congress, Moreno was the co-founder of a blockchain company focused on digital auto titles. Such experience affords him a unique perspective into the industry. During his election last year, Moreno received substantial monetary support from the cryptocurrency industry. Hundreds of millions of dollars were poured into ads to prop up his disastrous candidacy.
Moreno ended up winning that election, unseating powerful former Senate Banking Committee Chair Sherrod Brown. This victory pushed him into the Banking Committee. In his new position, Moreno is a hands-on partner with Sens. Lisa Blunt Rochester and Tim Sheehy. Together, they are finding bipartisan support for the bill. The proposed legislation has garnered bipartisan support from Moreno and his fellow freshmen senators.
In January, the White House created its own interagency working group on digital asset markets. This step particularly demonstrates their growing curiosity about the sector. The 119th Congress and the Trump administration are poised to focus on crypto as a significant aspect of financial services. The House is obviously very interested in having the Commerce Department play a stronger role. They want to be at the forefront of helping to develop blockchain technology.
