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Code · BILL · 118th Congress · H.R. 4814 (Introduced in House) — To direct the Consumer Product Safety Commission to establish a pilot program to explore the use of artificial intell... · Sec. 202

Sec. 202. Study on blockchain technology and its use in consumer protection

243 words·~1 min read·/bill/118/hr/4814/ih/section-202

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Not later than 1 year after the date of the 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 complete 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 or deceptive acts or practices. In conducting the study required by paragraph (1), the Secretary shall examine— trends in the commercial use of and investment in blockchain technology; best practices in facilitating public-private partnerships in blockchain technology; potential benefits and risks of blockchain technology for consumer protection; how blockchain technology can be used by industry and consumers to reduce fraud and increase the security of commercial transactions; areas in Federal regulation of blockchain technology in which greater clarity would encourage domestic innovation; and any other relevant observations or recommendations related to blockchain technology and consumer protection.
In conducting the study required by paragraph (1), the Secretary shall provide opportunity for public comment and advice relevant to conducting the study. 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.
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