The “2018 Economic Report for the President” has recently been published with a whole chapter dedicated to cryptocurrencies like bitcoin, ethereum, and the future of blockchain regulation.
New Innovations and Markets Presents America’s Regulatory and Legislative Institutions With Unique Challenges
Every year the U.S. Congress publishes an economic report that discusses a variety of subjects that affect the economy such as technology, opioid abuse, employment rates, and the stock market. This year’s “2018 Economic Report” features a whole chapter focused on bitcoin, initial coin offerings (ICOs), and blockchain technology. Chapter nine is called, “Building a secure future, one blockchain at a time.” The congressional study takes note that last year cryptocurrencies had entered a mainstream awareness phase.
“Blockchain technology — providing cybersecurity and many other potential benefits—broke into the mainstream in 2017 driven by widespread interest and surging valuations in digital currencies such as bitcoin and ethereum,” explains the report.
These new innovations and markets presented America’s regulatory and legislative institutions with unique challenges as well as technology that could revolutionize the world’s digital landscape and economy.
The Study Compares Cryptocurrencies to the Internet
The economic study is meant to use analysis and create conclusions in order to assist individual government committees and Congress. Chapter nine calls 2017 “The Year of Cryptocurrencies,” and the technology’s phenomenal rise is considered a significant economic event that stands out to the report’s researchers. The study also emphasizes how well traditional stocks did last year, but they did not compare to digital asset markets…
Read Full: US Economic Report Dedicates a Whole Chapter on Cryptocurrencies
