The US Congress also created a section on cryptocurrencies and blockchain technology for the first time in its annual Joint Economic Report published on March 13.
The report includes analysis and some recommendations for the next year.. The report also describes 2017 as the “year of cryptocurrencies.”
The following statements drew attention to the following:
“If digital currencies become less volatile in the future, it may be easier to value them and individuals may begin to use them more as a medium of exchange.”
Another remarkable section called for the regulation of cryptocurrencies:
“Policy makers, editors, Entrepreneurs and developers will continue to work together to ensure that these new blockchain technologies can be quickly deployed to protect Americans from fraud, theft, and abuse.
The report emphasized that Blockchain technology is highly resistant to hacks and has many potential applications.. The analysis shows that government bodies cannot ignore the revolutionary technology of Blockchain.