Reps. David Schweikert, Darren Soto Present Bill to Redefine Blockchain Terms

Reps. David Schweikert, Darren Soto Present Bill to Redefine Blockchain Terms
Blockchain Technology

Reps. David Schweikert, (R-Ariz.), and Darren Soto, (D-Fla.) have reintroduced a bill to define concepts essential to the use of blockchain technology in the country. 

The Blockchain Records and Transaction Act would redefine the terms “electronic records” and “electronic agent” with expanded meanings, and establish definitions for terms “smart contracts” and “blockchain,” Schweikert's office said Tuesday.

"I am pleased to re-introduce this critical legislation to ensure our laws are working to support emerging technologies like blockchain,” Schweikert said.

The bill would also require states to legally recognize blockchain records.

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