U.S. Government Considers Blockchain and Crypto for Grant Management
The U.S. Department of Housing and Urban Development (HUD) is exploring the use of blockchain and cryptocurrency in its operations, according to sources close to the matter.
ProPublica reported that HUD officials have held internal meetings to discuss the potential application of blockchain technology for tracking HUD grants. This trial could serve as a stepping stone toward broader crypto adoption within the federal government.
One of the ideas under consideration includes the use of stablecoins, though the specifics, such as which stablecoin or blockchain might be involved, have not been disclosed.
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There were also discussions about the possibility of distributing HUD funds to grantees in cryptocurrency. However, a HUD spokesperson clarified that there are currently no plans for incorporating blockchain or stablecoins into the department’s activities.
This move by HUD aligns with President Donald Trump’s efforts to position the U.S. as a global leader in the cryptocurrency space. Last week, he signed an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, signaling his administration’s push toward embracing digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
