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US Tech Bill Creates White House Blockchain Adviser Role
Bipartisan legislation approved by Congress to help out computer-chip manufacturing will also establish a new digital assets expert to advise the president.
Updated May 11, 2023, 3:39 p.m. Published Jul 28, 2022, 9:52 p.m.
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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.
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“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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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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SEC clarifies rules for tokenized stocks, tightening scrutiny on synthetic equity
The agency says issuer approval is required for true tokenized ownership, warning that many stock tokens sold to retail investors provide only indirect or synthetic exposure.
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- The Securities and Exchange Commission issued new guidance clarifying that tokenized stocks are subject to existing securities and derivatives rules, regardless of whether they are recorded on a blockchain.
- The agency drew a sharp line between issuer-sponsored tokenized securities, which can represent true equity ownership, and third-party products that typically provide only synthetic exposure or custodial entitlements.
- Regulators signaled they aim to curb the spread of synthetic equity products to retail investors while encouraging issuer-approved, fully regulated tokenization structures.
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