Chip Bill Provides Blockchain Specialist Position in White House Science Office

The $280 billion bill, which helps the semiconductor industry, also incorporated Rep. Bill Darren Soto aiming to create a position as adviser to the president on blockchain.< /p> New

The U.S. House of Representatives on Thursday passed the Chips and Science Act by a vote of 243 to 187. The bill, which was introduced in the Senate more than a year ago, provides grants and incentives to the semiconductor industry and encourages research. . It also creates a blockchain and cryptocurrency specialist position within the White House Office of Science and Technology Policy (OSTP).

The bill passed the Senate on Wednesday. It has an overall prize of $280 billion, including $52 billion in subsidies and incentives for U.S. semiconductor makers who face fierce competition from China, and $170 billion in incentives to the research. It should also help alleviate supply chain issues in the industry.

️ Good News From DC: Chip Bill Just Passed By Congress Creates @POTUS Advisor Dedicated To blockchain and web3 at the White House OSTP. Some of us have been pushing this for a long time. Big props to @RepDarrenSoto for the amendment that made this possible. pic.twitter.com/0V35cOubbH

In the long “Miscellaneous Science and Technology Provisions” chapter of the bill is a section creating a blockchain and cryptocurrency specialist position within the OSTP to “advise the President on issues relating to blockchain and cryptocurrencies". According to a statement released by Florida Democratic Rep. Darren Soto, the wording for this provision comes from a bill he introduced separately. Soto said in the statement:

"As...