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I
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 Representa-
1
tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Blockchain Innovation
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Act’’.
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•HR 3639 IH
SEC. 2. STUDY ON BLOCKCHAIN TECHNOLOGY AND ITS USE
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IN CONSUMER PROTECTION.
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(a) IN GENERAL.—
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(1) STUDY
REQUIRED.—Not later than one
4
year after the date of enactment of this Act, the
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Secretary of Commerce, in consultation with the
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Federal Trade Commission and any other Federal
7
agency the Secretary determines appropriate, shall
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conduct a study on current and potential use of
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blockchain technology in commerce and the potential
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benefits of blockchain technology for limiting fraud
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and other unfair and deceptive acts and practices.
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(2) REQUIREMENTS
FOR
STUDY.—In con-
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ducting the study required by paragraph (1), the
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Secretary shall examine—
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(A) trends in the commercial use of and
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investment in blockchain technology;
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(B) best practices in facilitating public-pri-
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vate partnerships in blockchain technology;
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(C)
potential
benefits
and
risks
of
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blockchain technology for consumer protection;
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(D) how blockchain technology can be used
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by industry and consumers to reduce fraud and
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increase the security of commercial trans-
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actions;
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•HR 3639 IH
(E)
areas
in
Federal
regulation
of
1
blockchain technology where greater clarity
2
would encourage domestic innovation; and
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(F) any other relevant observations or rec-
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ommendations related to blockchain technology
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and consumer protection.
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(3) PUBLIC
COMMENT.—In conducting the
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study required by paragraph (1), the Secretary shall
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provide opportunity for public comment and advice
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relevant to conducting the study.
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(b) REPORT
TO
CONGRESS.—Not later than 6
11
months after the completion of the study required by sub-
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section (a)(1), the Secretary shall submit to the Com-
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mittee on Energy and Commerce of the House of Rep-
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resentatives and the Committee on Commerce, Science,
15
and Transportation of the Senate, and make publicly
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available on the website of the Department of Commerce,
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a report that contains the results of such study.
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Æ
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