The U.S. Department of Commerce will begin releasing key economic statistics on the blockchain, starting with gross domestic product (GDP), Commerce Secretary Howard Lutnick announced Tuesday during a cabinet meeting with President Donald Trump.
“The Department of Commerce is going to start issuing its statistics on the blockchain, because you are the crypto president,” Lutnick told Trump, underscoring the administration’s embrace of blockchain and digital assets.
Ksenija Pavlovic McAteer
According to Lutnick, publishing GDP figures on-chain will allow for broader distribution and greater transparency. While U.S. economic data such as census results is already available to the public, placing information on blockchain networks could enhance trust by providing an immutable, verifiable record. Lutnick added that additional indicators may follow once implementation details are finalized, with the goal of eventually making blockchain-based reporting available across government agencies.
Source: CNBC Television
So far, no timeline has been shared, and it remains unclear which blockchain network will host the data. The Department of Commerce has not yet issued an official statement beyond Lutnick’s remarks.
Blockchain and Economic Policy
The initiative reflects a broader effort by the Trump administration to integrate blockchain and cryptocurrency into U.S. economic strategy. In a recent post on X, Lutnick wrote that “technology is at the foundation of the Trump presidency,” and emphasized that blockchain, bitcoin, and digital assets would play a central role in ensuring America’s leadership in the global economy.
"Technology is at the foundation of the Trump presidency." This Administration is going to use Bitcoin, digital assets, and blockchain to drive America forward and remain the leader in the global economy. I was proud to join President Trump and other leaders in crypto to drive… pic.twitter.com/eRoheUFMO4
— Howard Lutnick (@howardlutnick) March 7, 2025
Alongside the blockchain data plan, the administration has supported the use of dollar-backed stablecoins as a way to strengthen the dollar’s role as the world’s reserve currency. Regulators, including the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), are also advancing efforts to clarify which digital assets fall under securities laws.
Lutnick’s Background
Howard Lutnick, a longtime Wall Street executive, was confirmed as Commerce Secretary in February following his nomination by Trump. He previously served as chairman and CEO of financial services firm Cantor Fitzgerald, which has operated as a custodian for Tether, the issuer of the world’s largest stablecoin, USDT. Lutnick has been outspoken in his support for stablecoins, reiterating that stance during the Bitcoin 2024 conference.
