A U.S. bill to boost computer chip manufacturing that’s heading to President Joe Biden’s desk will also establish a crypto advisory role inside his administration.
The bipartisan legislation, which cleared both chambers of Congress after a House vote on Thursday, will establish a new adviser on blockchain and cryptocurrency issues who will work in the Office of Science and Technology Policy.
“I am proud to foster the policy needed to ensure innovation continues to take shape in our government,” said Rep. Darren Soto (D-Fla.), a crypto supporter who is co-chair of the Congressional Blockchain Caucus, in a statement.
The bill, known as the Chips and Science Act, won a number of Republican supporters on an otherwise Democrat-heavy effort that will be counted as a significant political win for the party and President Biden.
The White House’s science office was directed in the president’s executive order on crypto to analyze the effects digital assets are having on climate change and return later this year with a report. The office requested public input on that report in March.
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