Digital signatures on the blockchain could gain legal force in the United States

Digital signatures on the blockchain could be recognized as enforceable under U.S. national law. The corresponding bill introduced by Congressman and co-chair of the Blockchain Caucus David Schweikert.

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The document has been referred to the U.S. House Committee on Energy and Commerce. The explanatory note states that the amendments are being made to the Electronic Signatures in Global and National Commerce Act.

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The Republican Schweikert believes that the changes will provide a uniform approach to regulation. If the bill is approved, the law’s requirements would apply to electronic signatures and smart contracts on the blockchain.

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Earlier, Schweikert’s fellow Republican, Congressman Mike Conaway, proposed to regulate cryptocurrency exchanges at the federal level. The document provides for a voluntary approach, allowing platforms to remain under state jurisdiction if they wish.

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