Sec. 506. Study on non-fungible tokens
223 words·~1 min read·
/bill/119/hr/3633/ih/section-506A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Comptroller General of the United States shall carry out a study of non-fungible tokens that analyzes— the nature, size, role, purpose, and use of non-fungible tokens; the similarities and differences between non-fungible tokens and other digital commodities, including digital commodities and permitted payment stablecoins, and how the markets for those digital commodities intersect with each other; how non-fungible tokens are minted by issuers and subsequently administered to purchasers; how non-fungible tokens are stored after being purchased by a consumer; the interoperability of non-fungible tokens between different blockchain systems; the scalability of different non-fungible tokens marketplaces; the benefits of non-fungible tokens, including verifiable digital ownership; the risks of non-fungible tokens, including— intellectual property rights; cybersecurity risks; and market risks; whether and how non-fungible tokens have integrated with traditional marketplaces, including those for music, real estate, gaming, events, and travel; whether and how non-fungible tokens can be used to facilitate commerce or other activities through the representation of documents, identification, contracts, licenses, and other commercial, government, or personal records; any potential risks to traditional markets from such integration; and the levels and types of illicit activity in non-fungible tokens markets.
Not later than 1 year after the date of the enactment of this Act, the Comptroller General, shall make publicly available a report that includes the results of the study required by subsection (a).