The US government has begun publishing GDP data on the blockchain, initially covering nine blockchains.

2025/08/28 21:58

PANews reported on August 28th that, according to Bloomberg, the US government began publishing gross domestic product (GDP) data on a public blockchain on Thursday, marking the Trump administration's latest support for the cryptocurrency industry. According to Commerce Department officials, this move will open up an alternative avenue for publishing economic data—but not replace existing ones. The US government's initiative will initially cover nine blockchains, including Bitcoin, Ethereum, and Solana. The plan is to place so-called cryptographic hashes of the data on these blockchains.

Commerce Department officials said the Trump administration intends to expand the program's scope in the future. They said the blockchain initiative is unrelated to the dismissal of the Bureau of Labor Statistics director. Officials said Commerce Secretary Howard Lutnick was the driving force behind the push to publish the data on a blockchain. Earlier this year, Lutnick also said he planned to change the way GDP data is reported to remove the influence of government spending. GDP data is released by the Commerce Department's Bureau of Economic Analysis.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

CFTC issues advisory to restore US access to foreign crypto exchanges

CFTC issues advisory to restore US access to foreign crypto exchanges

The post CFTC issues advisory to restore US access to foreign crypto exchanges appeared on BitcoinEthereumNews.com. The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight issued an advisory on Aug. 28 clarifying foreign board of trade (FBOT) registration rules for non-US exchanges seeking to provide Americans with direct market access. Acting Chair Caroline Pham positioned the guidance as a remedy for trading activity that departed during previous enforcement actions. The advisory reaffirms the CFTC’s framework established in the 1990s, which allows foreign exchanges to register and serve US traders across all asset classes, including digital assets. Pham stated the guidance provides “regulatory clarity needed to legally onshore trading activity that was driven out of the United States due to the unprecedented regulation by enforcement approach of the past several years.” The Division of Market Oversight received an increased number of inquiries about FBOT registration requirements and procedures as global derivatives markets expanded into new asset classes and trading platforms. Recent enforcement actions created confusion about whether non-US exchanges should register as designated contract markets or foreign boards of trade, prompting the clarification. Path to US markets The advisory addresses disruption caused by what CFTC describes as novel enforcement interpretations inconsistent with decades of precedent. American companies forced to establish operations in foreign jurisdictions for crypto asset trading now have a defined path to return to US markets through FBOT registration. Foreign exchanges must demonstrate comparable regulatory supervision in their home countries and establish information-sharing agreements with US authorities. Registered FBOTs can provide direct access to eligible US participants, including proprietary traders and registered intermediaries like futures commission merchants. Universal application The framework applies universally across traditional and digital asset markets, requiring no distinction between asset classes for registration purposes. To maintain the highest standards of customer protection, all trades must be cleared through CFTC-registered firms or entities exempt under Regulation 30.10. Pham characterized the advisory…
Share
BitcoinEthereumNews2025/08/29 03:55
Share