Skip to main content

Chips bill provides for blockchain specialist position in White House science office

The $280 billion bill, which aids the semiconductor industry, also incorporated Representative Darren Soto’s bill to create a position to advise the president on blockchain.

The United States House of Representatives passed the Chips and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced into the Senate over a year ago, provides grants and incentives to the semiconductor industry and encourages research. It also creates a blockchain and cryptocurrency specialist position in the White House Office of Science and Technology Policy (OSTP).

The bill passed the Senate on Wednesday. It has an overall price tag of $280 billion, which includes $52 billion in grants and incentives for U.S. semiconductor manufacturers who face fierce competition from China, and $170 billion in incentives for research. It is expected to contribute to the easing of supply chain issues in the industry as well.

Tucked into the lengthy “Miscellaneous Science and Technology Provisions” chapter of the bill is a section creating a blockchain and cryptocurrency specialist position in the OSTP to “advise the President on matters relating to blockchain and cryptocurrencies.” According to a statement released by Democratic Florida Representative Darren Soto, the language of that provision comes from a bill he introduced separately. Soto said in the statement:

“As a co-chair of the Congressional Blockchain Caucus and a member of the House Energy and Commerce Committee, I am proud to foster the policy needed to ensure innovation continues to take shape in our government and the CHIPS and Science Act will do just that.”

Related: Scaramucci sees bright future for crypto but ‘very worried’ about US politicians

Soto has a long record of crypto advocacy. He was a co-sponsor with Republican Tom Emmer of the 2020 bill to exclude small purchases made with crypto from the capital gains tax. He and Emmer were also among the co-sponsors of the reintroduced Digital Commodity Exchange Act in April 2022. The OSTP was given a role in several of the initiatives mandated by President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets.



from https://ift.tt/lmjLMzu
https://ift.tt/WAQojgF
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl...
Post a Comment
Read more

FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer

On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far. Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money.  A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hackers have transferred a portion of the stolen funds to the OKX exchange, after using the Bitcoin mixer ChipMixer. The analyst reported that at least 225 BTC — worth $4.1 million USD — has been sent to OKX so far.  1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 According to ZachXBT, the FTX h...
Post a Comment
Read more

2 metrics signal the $1T crypto market cap support likely won’t hold

Despite the 8.5% weekly rally in cryptocurrencies, the lack of stablecoin premiums in Asia and futures markets activity shows buyers’ lack of confidence. Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s ( BTC ) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31. Total crypto market cap, USD (in billions). Source: TradingView The cryptocurrency market was positively impacted by a 6.3% weekly rally in the Russell 2000 mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets. For instance,  55,000 BTC was withdrawn from Binance on Oct. 26, a record high. Typically, analysts consider the reduced number of coins deposited on exchanges a bullish indicator, as the immediate selling pressure eases. Moreover, exchange and wallet provider Blockchain.com ...
Post a Comment
Read more