Republican Congressman David Schweikert (R-AZ) has referred a new bill to the House Committee on Energy and Commerce that, if passed, would recognize digital signatures on the blockchain as enforceable by law.
This is particularly important for the enforceability of smart contracts, which automate transactions or other contractual obligations according to binding, pre-specified rules. Smart contract advocates have long used the adage "code is law," and the new bill, if approved, could make this a statutory reality.