The United States Congress recently published the "Joint Economic Report 2018" on the cryptocurrency and blockchain for a special analysis, which is the first time the technology appeared in this annual report, showing the US government's concern for them. At the same time, surprisingly, the report does not blindly condemn the risk of cryptocurrency, but emphasizes the potential of this technology, and hopes that relevant departments can cooperate, learn relevant knowledge, and deploy the technology faster and better. A new report from the US Congress called 2017 the Year of Encrypted Money, calling on legislators and industry stakeholders to collaborate on the use of the technology. The 2018 Joint Economic Report is an assessment of the state of the US economy and recommendations for economic development in the new year. The report was published by the Joint Economic Committee of Congress and draws on the views of the House of Representatives and Senate members. It is worth noting that the report has an entire section devoted to cryptocurrency and blockchain. This is also the first time the technology has been mentioned in this form in the annual report. The comprehensive report, completed on March 13, tracks the rise of cryptocurrencies, pointing out that Bitcoin and Ethereum's price increases are particularly significant, surpassing the Dow and the S&P 500. The recommendations given in this report may be one of its most noteworthy aspects. The report points out that blockchain technology can serve as a potential tool for combating cybercrime and protecting the national economy and its infrastructure, and that the application of this technology in this area should be a priority for legislators and regulators. The authors of the report suggest that legislators and the public should become more familiar with cryptocurrencies and their underlying technologies – blockchains, because they “have a wide range of applications in the futureâ€. The report also states: “Decision makers, regulators and entrepreneurs should continue to work together to ensure that developers can quickly deploy these new blockchain technologies and protect Americans from fraud, theft and abuse while ensuring compliance ." The report states that “regulators should continue to coordinate with each other to ensure that policy frameworks, definitions and jurisdictions are coherent†and conclude that government agencies at all levels should consider and study the new uses of this technology. This report represents the latest signs of the US government taking the blockchain and cryptocurrency seriously. Earlier this week, the US House of Representatives’ Capital Markets, Securities and Investment Subcommittee held a hearing on ICO, and last month, the House’s “Science, Space and Technology Committee†and the Senate’s “Bank, The Housing and Urban Affairs Committee also held a hearing on the technology.
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