The US authorities have lost several years and did not achieve significant results in studying blockchain technologies. Now US lags behind other countries that at that time more thoroughly studied, tested and launched government projects using technology of decentralized ledger.

Chairman J. Christopher Giancarlo, the head of the Commodity Futures Trading Commission (CFTC), said that he is deeply interested in the blockchain technology when speaking in Congress. Giancarlo stressed the need to study innovative blockchain technologies with the aim of their possible future use in regulation.

"[The Bank of England has] had the last four years ... to participate in all these blockchain beta tests that we have not been able to participate in and they've been able to get comfortable with the technology and now they're incorporating it. I feel we're four years behind because we do need to test it, we do need to understand it so we can do a better job as regulator before I then come to Congress and say we need money to to build something."

The hearing, titled “Examining the Upcoming Agenda for the CFTC,” was convened by the House Committee on Agriculture. During the hearing, Congressman Austin Scott asked Giancarlo to explain the agency's performance and future agenda and work of its LabCFTC, a specialized center dedicated for “engagement with the fintech innovation community” that was established last year. Giancarlo clarified:

“LabCFTC is our front door into these new regulatory fintech developments in the marketplace, and it’s so important to us to be able to understand these innovations that are coming down the pike so fast.”

In February 2018, the US Securities and Exchange Commission (SEC) and the CFTC held joint hearings on cryptocurrency assets. During that hearings, Christopher Giancarlo revealed his attitude to blockchain by saying that financial institutions, charitable organizations, social services, agriculture and logistics could benefit from this technology.