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‘Christmas Tree’ Funding Bill in Congress Includes Gifts for Crypto Industry

‘Christmas Tree’ Funding Bill in Congress Includes Gifts for Crypto Industry

A spending agreement unveiled by congressional leaders Tuesday—a so-called Christmas Tree stopgap bill packed with various additions before the holiday break—is aimed at averting a government shutdown. But it also includes a relatively novel crypto-related initiative.

Tucked within a 1,547-page bill that would keep the government funded through March 14, 2025, the legislative package currently includes the “Deploying American Blockchains Act,” a measure that would enable the U.S. Department of Commerce to make policy recommendations while assembling a government-backed group of industry experts on Capitol Hill.

First passed in the House of Representatives in May, the bill requires the Department “to support the leadership of the…

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