The House is considering a proposal that would require the Department of Veterans Affairs to examine how distributed ledger technology, such as blockchain, can enhance the agency’s claims systems. 

The “Veterans Affairs Distributed Ledger Innovation Act of 2025” (H.R. 3455), introduced May 15 by Rep. Nancy Mace, passed its first checkpoint with a June 11 hearing before the House Veterans’ Affairs Subcommittee on Oversight and Investigations. 

The measure now waits for a vote by the full chamber.

The bill directs the Secretary of Veterans Affairs (VA) to conduct a comprehensive study on whether distributed ledgers can enhance the transparency, traceability, and resistance to fraud, waste, and abuse of benefits adjudication. 

Lawmakers frame the effort as a response to persistent complaints about slow, opaque processing and data errors that can delay or misdirect payments owed to veterans.

Immutable records

Under the text, the VA must explore how a distributed ledger could securely log each step in a claim, verify information to weed out false filings, and flag irregularities in benefit delivery.

The department would need to consult technologists, veterans’ service organizations, and other federal agencies that are already experimenting with distributed ledgers. 

Within a year of enactment, the Secretary would report back to Congress with findings on the feasibility, benefits, and risks, along with recommendations for pilot programs and any statutory or administrative changes necessary to deploy the technology.

The bill also spells out what it means by a distributed ledger. By codifying the definition, lawmakers aim to avoid confusion over whether the VA could satisfy the mandate with a conventional database dressed up in new terminology.

If the House approves the measure, it would move to the Senate for consideration. 

Notably, the veteran-related proposal now sits alongside other bills, such as the Blockchain Regulatory Certainty Act, authored by Rep. Tom Emmer, and the Deploying American Blockchains Act, introduced by Rep. Bernie Moreno.

Mentioned in this article

A guaranteed income pilot program is launching in one US county to help those already enrolled in government aid programs pay for basic needs.

Contra Costa County in California will provide 178 people with up to $1,250 per month for 18 months, reports CBS News.

The program has just been approved by the Contra Costa County Board of Supervisors, which previously allocated $3.25 million in county funds and another $1 million in state funds for the effort. The program will be administered by the county’s Employment and Human Services Department.

Those eligible are from four specific populations: youth transitioning out of foster care, families with young children experiencing financial hardship, low-income seniors and people on probation returning to the community after incarceration.

Participants also need to be enrolled in county-sponsored programs to be eligible, such as CalWORKs. The first payments are expected to go out on January 15th.

Says Marla Stuart, director of the county’s Employment and Human Services Department,

“I think you can provide the most, the largest percent of the budget, to the benefits themselves if you don’t have to invest in administrative overhead, advertising, applications, determining eligibility and then managing the case throughout the period.”

Board chair Candace Andersen says the program is a pilot that may result in an expanded effort, noting there are more than 300,000 people in Contra Costa County on some form of government assistance.

“Most pilots are put in place to say, ‘Hey, does this work? Should we then expand it into a bigger program that might help even more people?’ And that’s what this is.”

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The national spokesperson for India’s ruling party has suggested that the country should explore a Bitcoin (BTC) reserve pilot and proactively work on a regulatory framework for crypto assets to lead the growing industry and strengthen its economy.

Politician Pushes For Bitcoin Reserve Pilot

On Thursday, Pradeep Bhandari, the national spokesperson of the Bharatiya Janata Party (BJP), urged the Indian government to explore a Bitcoin strategy to strengthen the country’s economy and project innovation.

In an article for India Today, Bhandari praised the US efforts to establish a Strategic Bitcoin Reserve, exploring budget-neutral options to expand its holdings without using taxpayers’ money.

He highlighted the US states’ race to pass crypto legislation and establish reserves. Notably, three states have already passed bills that allow the creation of a BTC reserve, with some, such as Texas, enabling the use of public funds to purchase and hold Bitcoin as a reserve asset.

Similarly, Arizona recently passed a bill that updated the state’s unclaimed property laws to include Bitcoin and other cryptocurrencies, technically creating Arizona’s first crypto reserve.

He also noted Bhutan’s crypto strategy, mining BTC using hydropower since 2021, offering a regional perspective. Notably, the South Asian country amassed a $1 billion Bitcoin reserve by May 2025.

BJP’s national spokesperson considers that the US shift and Bhutan’s strategy invite reflection about how BTC, thoughtfully integrated, could enhance India’s economic toolkit. “For India, observing this offers a lens to assess whether Bitcoin could diversify our reserves, complementing traditional holdings in an uncertain global economy,” the article reads.

Meanwhile, he suggested that the country, with its renewable energy capacity, could adapt Bhutan’s successful model, which shows that “digital assets can stabilise economies, a point worth considering.”

Crypto Regulatory Reform: A Must

According to Bhandari, these measures “reflect a growing recognition of Bitcoin’s potential to bolster fiscal resilience and serve as a hedge in uncertain economic conditions,” adding that these efforts aren’t a “reckless pivot,” but a “calculated step” toward embracing the legitimacy of digital assets.

Therefore, India stands at “a pivotal juncture,” having the opportunity to lead global markets with a “measured Bitcoin strategy,” like a reserve pilot, to “strengthen economic resilience and project modernity.”

Nonetheless, he explained that regulation in the country remains pivotal as India’s crypto policy needs clarity to unlock the industry’s potential. Notably, authorities tax crypto assets, but the sector remains highly unregulated.

BJP’s national spokesperson pointed out that in 2023, India chaired a crypto working group with the International Monetary Fund (IMF) to shape global standards. However, he considers it necessary to “race ahead” like the US and other jurisdictions, instead of pausing for consensus.

Clear regulation could bring both transparency and the required oversight to this emerging asset class—enabling responsible innovation while protecting a rising investor class.

He concluded that regulation is essential for “fostering institutional confidence and building a framework where Bitcoin can play a meaningful role in India’s macroeconomic strategy.”

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A guaranteed income pilot program is launching in one US county amid rising cases of homelessness.

The program, known as Stabilize Families, is backed by the nonprofit RISE Together Innovation Institute and the Community Shelter Board in Franklin County, Ohio, reports The Columbus Dispatch.

The Community Shelter Board will give 80 families a one-off cash handout of $1,500, while RISE Together Innovation Institute will offer monthly payments of $500 to 20 families for 11 months.

Data collected by the Community Shelter Board reportedly shows homelessness in Franklin County in 2024 went up six times faster than the population growth. As of January 23rd, according to the report, there were 2,556 homeless people in the Ohio county, up by 7.4% from 2024.

Community Shelter Board’s president and CEO Shannon Isom says the guaranteed income pilot program is “about dignity” and will give the beneficiaries “breathing room to stabilize, plan, and dream again.”

The report cites RISE Together Innovation Institute’s CEO Danielle Sydnor saying,

“Guaranteed income is a viable strategy to promote economic stability and well-being for residents in Franklin County.”

According to the report, Ohio State University will be involved in the guaranteed income pilot program and will conduct research on the project’s impact on beneficiaries and the community.

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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May 28, 2025

Kazakhstan is preparing to launch “CryptoCity,” a pilot zone where cryptocurrencies can be used to pay for goods, services, and more.

The announcement was made by President Kassym-Jomart Tokayev during the Astana International Forum 2025, according to a May 29 statement on the official website of the president.

Kazakhstan Plans Legal Framework for CryptoCity, Crypto-Powered City in Alatau

In his remarks, Tokayev described CryptoCity as a regulated sandbox for experimenting with crypto adoption.

“We are planning to create a pioneering pilot zone called CryptoCity where cryptocurrencies might be used for purchasing goods, services, and even beyond,” he said.

A full transcript of the speech was later published on the president’s official website.

While Tokayev did not provide many details, the initiative is the latest in Kazakhstan’s broader efforts to explore crypto use cases and integrate digital assets into its economy.

The pilot zone is part of a wider strategy to attract technology ventures and capitalize on the growth of its domestic crypto market.

Kazakhstan has been building digital financial infrastructure since launching a central bank digital currency (CBDC) pilot in February 2023. Programmability was a key feature from the beginning, planned to reduce corruption.

That same year, the Center for Interbank Settlements was transformed into the National Payment Corporation, tasked with developing the CBDC platform.

By November 2023, the country had launched the digital tenge in pilot mode with real users, including banks and their clients.

The system used blockchain-based smart contracts to facilitate programmable payments.

Banks involved in the pilot issued digital vouchers and cards to support usage.

The government also partnered with Binance to test CBDC payments with selected merchants. Binance has since expanded its footprint in Kazakhstan with local investments and a digital asset exchange.

Zhaslan Madiyev, Minister of Digital Development, told local media that officials are currently choosing a location for CryptoCity.

“Of course, the most promising place for CryptoCity is the new city of Alatau—it’s the president’s initiative,” he said.

Alatau, a research and technology hub near Kazakhstan’s southeastern border, is already home to a special economic zone and multiple science institutions. Regulators see potential synergies in adding CryptoCity to the area.

“The concept is that cryptocurrency would be used as a means of payment—to pay in restaurants and cafes, buy real estate, and make investments,” Madiyev explained. “I believe this could be a major breakthrough for the blockchain industry.”

According to Madiyev, the city is already under development. The next step is building a legal framework to allow free crypto circulation and establish crypto as a legitimate payment method.

“These conditions need to be reflected in the law,” he said.

Kazakhstan Considers “Crypto Bank” as Lawmakers Push for Stronger Oversight in Expanding Sector

Adding to the unveiling of the “CryptoCity” pilot zone by President Kassym-Jomart Tokayev, momentum is building around broader crypto reform in Kazakhstan.

Lawmakers are now calling for the establishment of a state-supported “crypto bank” to tighten regulation, protect users, and keep capital within national borders.

MP Azat Peruashev proposed the idea in Parliament, warning that the absence of a clear legal infrastructure has driven most crypto activity into the shadows.

Citing reports that over 90% of transactions occur outside the legal sector, he argued that a crypto bank could serve as a state-regulated exchange and custody platform, providing a safer alternative to illegal schemes and scam coins.

Prime Minister Olzhas Bektenov confirmed that the government is exploring such institutions as part of its broader digital asset strategy.

Crypto banks, he explained, could support exchange, storage, and transaction services, backed by licensed operators under the Astana International Financial Centre.

The push comes amid growing crypto volumes and rising enforcement. While licensed trading hit $1.4 billion in 2024, most of the $4.1 billion in activity last year occurred off the books.

In response to that, authorities shut down 36 unlicensed platforms and blocked thousands of sites, but lawmakers say more structural reform is urgently needed.

CME Group has already completed the initial integration and testing phase of GCUL, according to the companies’ March 25 press release.

CME Group Will Introduce Tokenization Technology to Enhance Capital Market Efficiency Using Google Cloud’s New Universal Ledger https://t.co/TuHxQKSjc5

— CME Group (@CMEGroup) March 25, 2025

Driving Efficiency for 24/7 Trading

CME Group and Google Cloud are collaborating to enhance the efficiency of collateral, margin, settlement, and fee payments, aligning with the industry’s transition to 24/7 global trading.

Terry Duffy, CME Group Chairman and CEO, stated, “We are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value.”

This partnership leverages Google Cloud’s Universal Ledger (GCUL), a programmable distributed ledger designed to integrate with traditional financial institutions. GCUL simplifies account and asset management within a secure, private, and permissioned network.

Rohit Bhat, General Manager, Financial Services at Google Cloud, emphasized the company’s commitment to providing advanced infrastructure that “enables partners to accelerate innovation and drive efficiencies.”

Bhat also highlighted tokenization as a significant opportunity to streamline complex financial systems.

The growing recognition of tokenization’s potential is evident in market projections. The on-chain tokenization market, currently valued at $19.5 billion globally, with a 20% increase in the last 30 days, is expected to reach $276 billion by 2034. This underscores the industry-wide belief that tokenization is a key trend for the next decade.

CME Group and Google Cloud plan to commence testing their tokenization technology with market participants in 2026.

However, the announcement did not specify which assets will be tokenized during these tests.

Google Cloud Expands Its Presence in the Blockchain Space

Google Cloud’s involvement in blockchain technology has grown significantly in recent years.

Beginning in 2018 with the integration of Bitcoin blockchain data into its data warehouse, the company has steadily expanded its blockchain infrastructure services.

In 2023, Google Cloud further broadened its scope by adding data from 11 blockchains, including Ethereum, Arbitrum, Avalanche, and Optimism, to its data warehouse.

Most recently, in September 2024, Google Cloud launched its Blockchain Remote Procedure Call (RPC) service. This initiative aims to streamline access to blockchain data, enhancing the reliability and speed of decentralized applications (DApps). Ethereum will be the first to use this new service.

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