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House Bill 3639
117th Congress(2021-2022)
Blockchain Innovation Act
Introduced
Introduced
Introduced in House on May 28, 2021
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Introduced in House 
May 28, 2021
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Introduced in House(May 28, 2021)
May 28, 2021
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
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H. R. 3639 (Introduced-in-House)


117th CONGRESS
1st Session
H. R. 3639


To direct the Secretary of Commerce, in consultation with the Federal Trade Commission, to conduct a study and submit to Congress a report on the state of blockchain technology and its use in consumer protection, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 28, 2021

Mr. Soto (for himself and Mr. Guthrie) introduced the following bill; which was referred to the Committee on Energy and Commerce

A BILL

To direct the Secretary of Commerce, in consultation with the Federal Trade Commission, to conduct a study and submit to Congress a report on the state of blockchain technology and its use in consumer protection, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Blockchain Innovation Act”.

SEC. 2. Study on blockchain technology and its use in consumer protection.

(a) In general.—

(1) STUDY REQUIRED.—Not later than one year after the date of enactment of this Act, the Secretary of Commerce, in consultation with the Federal Trade Commission and any other Federal agency the Secretary determines appropriate, shall conduct a study on current and potential use of blockchain technology in commerce and the potential benefits of blockchain technology for limiting fraud and other unfair and deceptive acts and practices.

(2) REQUIREMENTS FOR STUDY.—In conducting the study required by paragraph (1), the Secretary shall examine—

(A) trends in the commercial use of and investment in blockchain technology;

(B) best practices in facilitating public-private partnerships in blockchain technology;

(C) potential benefits and risks of blockchain technology for consumer protection;

(D) how blockchain technology can be used by industry and consumers to reduce fraud and increase the security of commercial transactions;

(E) areas in Federal regulation of blockchain technology where greater clarity would encourage domestic innovation; and

(F) any other relevant observations or recommendations related to blockchain technology and consumer protection.

(3) PUBLIC COMMENT.—In conducting the study required by paragraph (1), the Secretary shall provide opportunity for public comment and advice relevant to conducting the study.

(b) Report to congress.—Not later than 6 months after the completion of the study required by subsection (a)(1), the Secretary shall submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate, and make publicly available on the website of the Department of Commerce, a report that contains the results of such study.