Rep. Warren Davidson, R-Ohio, weighed in on blockchain technology in an op-ed in The Hill on April 22, making the case for his new legislation, the Token Taxonomy Act. Davidson introduced the legislation on April 9 alongside Reps. Darren Soto, D-Fla., Ted Budd, R-N.C., Tulsi Gabbard, D-Hawaii, Josh Gottheimer, D-N.J., and Scott Perry, R-Pa. The bill would, according to Davidson, “provide regulatory certainty for businesses, entrepreneurs, and regulators in the U.S.’s blockchain economy” and would “clarify the numerous conflicting state initiatives and regulatory rulings, and patchwork of judicial decisions, that have clouded certainty for entrepreneurs and businesses that use blockchain technology.” In the op-ed Davidson wrote, “We must ensure that we avoid over-complicating, overregulating, and frustrating the spirit of enterprise that built our free market economy into what it is today. In an era of partisanship, the Token Taxonomy Act offers a nonpartisan solution to a nonpartisan issue – American leadership in blockchain technology. We welcome dialogue as we work to pass this important piece of legislation to help keep American leadership preeminent in technology and innovation.”
