Share this article
Bill to Give Blockchain Records Legal Clout Reintroduced in US House
Rep. Soto and Rep. Schweikert call for recognizing blockchain signatures as legal instruments in their new bill.
By Danny Nelson
Updated Sep 14, 2021, 10:05 a.m. Published Oct 7, 2020, 4:05 p.m.
Leaders of the Congressional Blockchain Caucus have reintroduced a bill that would give legal status to blockchain-secured records and smart contracts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Rep. David Schweikert (R-Ariz.) and Rep. Darren Soto (D-Fla.) submitted the Blockchain Records and Transaction Act of 2020 on the House floor Wednesday, a measure similar to one introduced in 2018 but which never came up for a vote.
- The current bill would prohibit individuals from denying an electronic record legal effect "solely because it is created, stored or secured on or through a blockchain."
- Further, the bill would enshrine blockchain and smart contracts in the Electronic Signatures in Global and National Commerce Act of 2000, the cornerstone federal law protecting electronics signatures more broadly.
- The authors said in a statement this would legitimize blockchain records as a legal instrument in interstate and foreign commerce.
- Several states have already implemented similar provisions, most recently Illinois.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
