Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House Agriculture subcommittee hears how blockchain can speed farm commerce, but members press for clearer rules
Summary
Witnesses told the House Agriculture subcommittee that blockchain tools can improve cattle provenance, precision GPS and regulatory disclosures for agricultural markets, while members pressed for statutory clarity, CFTC reauthorization and rural broadband to enable adoption.
The House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development heard testimony Wednesday on how blockchain technology could be applied to agriculture to speed settlement, verify provenance and expand precision-farming tools — and lawmakers repeatedly pressed for clearer laws so the technologies can scale.
At the hearing titled “American Innovation and the Future of Digital Assets: On-Chain Tools for an Off-Chain World,” Chairman Johnson and Ranking Member Don Davis said the panel will work with the House Financial Services Committee to press forward on broad market-structure legislation, including the Financial Innovation and Technology for the 21st Century Act (FIT 21).
Why it matters: Witnesses said legal uncertainty and uneven infrastructure are the principal obstacles to adoption. Without a clear federal framework for digital-asset markets and more rural broadband and infrastructure, several witnesses warned, U.S. innovators and producers risk ceding ground to foreign jurisdictions that have already clarified rules.
Bill Hughes, introduced by the committee…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
