Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » US CHIPS and Science Act Suggests Creation of Digital Currency Advisory Role for Biden Administration

US CHIPS and Science Act Suggests Creation of Digital Currency Advisory Role for Biden Administration

Kelly Cromley by Kelly Cromley
Aug 1, 2022
in Market News, News
Reading Time: 2 mins read
0

A new law that would create the job of blockchain adviser for the US government has blockchain enthusiasts excited. Following a 243-147 vote on Thursday, the “CHIPS and Science Act” has overcome a congressional objection.

All that is needed now is President Joe Biden’s signature, and observers believe the subsequent action will be simple. The main goal of the legislation is to support American chip and semiconductor production.

The authors of the legislation gave around $52 billion in assistance to domestic chip producers to boost output. The IT industry has been beset by a chip shortage since the epidemic, which has led to soaring pricing and a reliance on foreign suppliers.

“For years, experts have advocated that we should stop manufacturing in America. Manufacturing jobs have returned,” said Biden. “I never had that opinion. Now that this law is in place, there will be even more of them.”

The legislation will create a post for the Biden administration to provide guidance on digital money in addition to lowering manufacturing costs. Industry executives have lauded the new post, which will report to the Office of Science and Technology Policy, as a positive move.

The Congressional Blockchain Caucus leader and proponent of digital currency, Rep. Darren Soto (D-FL), was overjoyed when the measure was passed by the House of Representatives. “I’m happy to advocate the appropriate policies to make sure that innovation continues to thrive in our government,” Soto said.

Few lawmakers have publicly said that they are against the measure. The opposition, lead by Bernie Sanders, said that the proposed bill is nothing more than a free pass for chip makers.

There is no denying that the shortage of microprocessors and semiconductors is a serious threat to our nation, according to Sanders. “I fail to understand why so many Congressmen are willing to take this bribe.”

Despite making more than $70 billion in profits over the previous year, Sanders said in a public speech that the top five semiconductor businesses would get the majority of the subsidies as a consequence of the Congress’s decision.

He implied that under certain conditions, he would back the proposal. The first priority is that businesses shouldn’t buy back their own stock and should maintain objectivity when it comes to union business.

Previous Post

Arca’s Strategist Says Ethereum Could Still Flip Bitcoin

Next Post

Tiffany to Launch Pendants based on CryptoPunk NFTs

Related Posts

baltimore-blockchain-adoption

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
0

Baltimore officials are turning to blockchain in an effort to simplify the way real-estate titles are transferred, particularly for the...

zigchain-unveils-mainnet-beta

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
0

A Karachi-based team led by blockchain entrepreneur Abdul Rafay Gadit has unveiled ZIGChain, a base-level network designed from the ground...

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
0

In a bold move that signals the next phase of corporate crypto adoption, France-based semiconductor company Sequans Communications has announced...

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
0

Mantra, a Layer-1 blockchain focused on real-world assets (RWA), has confirmed that Lympid, a platform specializing in the issuance and...

guinevere-capital-partners-with-polemos

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025
0

Guinevere Capital, a well-established investment firm known for its focus on esports and gaming ventures, has confirmed a strategic partnership...

D'CENT Wallet

D’CENT Expands Web3 Reach with Taiko Partnership

by Kelly Cromley
Jun 24, 2025
0

D’CENT, a pioneer in biometric hardware wallets, has introduced Ethereum Layer-2 solution Taiko as the third featured partner in its...

Next Post
Tiffany to Launch Pendants based on CryptoPunk NFTs

Tiffany to Launch Pendants based on CryptoPunk NFTs

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

baltimore-blockchain-adoption
Market News

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
zigchain-unveils-mainnet-beta
Market News

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion
Binance Coin News

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets
Market News

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
guinevere-capital-partners-with-polemos
Market News

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree