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US to Publish Official Statistics on the Blockchain – Why It Matters Now

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The US authorities is making ready to publish official financial statistics, together with GDP knowledge, on the blockchain in what may turn out to be one of many largest adoptions of decentralized expertise by a federal company.

Commerce Secretary Howard Lutnick announced the plan throughout a White Home Cupboard assembly on Tuesday, telling President Donald Trump:

“The Division of Commerce goes to begin issuing its statistics on the blockchain as a result of you’re the crypto president. And we’re going to put out GDP on the blockchain so folks can use the blockchain for knowledge distribution.”

On-Chain GDP Reporting Might Reshape World Market Transparency

In accordance with Lutnick, the Division of Commerce is “ironing out all the small print” however expects to develop the blockchain publishing mannequin throughout different authorities businesses as soon as the system is in place.

The initiative is designed to reinforce transparency, forestall knowledge tampering, and modernize how official statistics are shared with the general public, buyers, and analysts.

The transfer comes within the wake of the Deploying American Blockchains Act of 2025 (H.R. 1664), which passed the House of Representatives in June with bipartisan help and is at present underneath Senate evaluation.

The invoice directs the Division of Commerce to function the federal authorities’s lead company for blockchain coverage, advising the president, setting technical requirements, and making a nationwide technique for the deployment of blockchain and distributed ledger applied sciences.

The Commerce Division’s determination to place GDP knowledge on-chain marks a tangible first step towards fulfilling that mandate. For the primary time, U.S. businesses won’t solely regulate blockchain but additionally actively use it to distribute public knowledge.

Advocates say the system may cut back alternatives for manipulation, enhance effectivity in authorities reporting, and set a precedent for different international locations to comply with.

The timing displays a broader push inside the Trump administration to combine blockchain into authorities operations. A January 2025 government order directed federal businesses to speed up digital asset innovation and develop favorable regulatory frameworks.

Lutnick’s announcement additionally builds on earlier, unfinished work from Elon Musk’s D.O.G.E. department, which had experimented with publishing authorities spending knowledge on-chain earlier than the venture was deserted.

A number of businesses, together with the Treasury Division, the Fiscal Service, and the Division of Protection, are reportedly exploring comparable purposes. These vary from monitoring authorities spending to monitoring elements and provide chains in protection procurement.

By extending blockchain’s immutable ledger to official statistics, the federal government seeks to make sure public belief in knowledge that shapes all the things from market forecasts to fiscal coverage.

The initiative has main implications for monetary markets. Official GDP releases are among the many most carefully watched indicators for buyers worldwide. Publishing such knowledge on the blockchain would enable prompt, tamper-proof entry to figures that affect international capital flows, rate of interest expectations, and coverage choices.

Business observers say the system may get rid of discrepancies, cut back the chance of leaks, and supply a single, verifiable supply for financial knowledge.

Whereas no agency timeline has been supplied, Lutnick emphasised that GDP knowledge would be the start line, with the potential for enlargement to a broader vary of presidency statistics.

As blockchain adoption strikes from the personal sector into the center of federal knowledge infrastructure, the U.S. is positioning itself to set new benchmarks for transparency and technological management.

Trump Administration Pushes for Regulatory Readability on Digital Property

The White Home is intensifying efforts to form U.S. crypto coverage, with President Donald Trump’s Working Group on Digital Asset Markets urging regulators to clarify federal rules on digital asset buying and selling.

The group, led by David Sacks and created by government order in January, has known as on the Securities and Alternate Fee (SEC) and Commodity Futures Buying and selling Fee (CFTC) to offer instant readability on custody, buying and selling, registration, and document preserving.

It has additionally pushed for eradicating bureaucratic hurdles that gradual monetary innovation and has proposed treating cryptocurrencies as a brand new asset class underneath modified variations of present tax legal guidelines.

Whereas the group doesn’t draft laws, its suggestions have influenced latest measures, together with the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act. Trump signed the GENIUS Act on July 18, whereas the opposite two await Senate evaluation.

The administration has already shifted regulatory posture, with the SEC dropping investigations into corporations corresponding to Coinbase and Uniswap and urgent to finish the debanking of crypto firms.

In a separate transfer, Trump signed an executive order allowing Americans to include crypto and other alternative assets in 401(k) and retirement accounts, directing the Labor Division to reevaluate present restrictions. U.S. retirement property stood at $43.4 trillion in early 2025, together with $8.7 trillion in 401(okay)s.

In the meantime, SEC Chairman Paul Atkins announced “Project Crypto,” an initiative to modernize securities regulation and transfer monetary markets on-chain. The venture seeks to make clear guidelines on digital asset classifications, create protected harbors for token distributions, and reply to rising demand from Wall Avenue and Silicon Valley for tokenized securities.

Atkins stated the hassle displays a broader push to carry crypto innovation again to the U.S. after years of regulatory uncertainty.

The put up US to Publish Official Statistics on the Blockchain – Why It Matters Now appeared first on Cryptonews.

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