Bill Sponsor
BILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 3638
117th Congress(2021-2022)
Digital Taxonomy Act
Introduced
Introduced
Introduced in House on May 28, 2021
Overview
Text
Introduced in House 
May 28, 2021
About Linkage
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.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Introduced in House(May 28, 2021)
May 28, 2021
About Linkage
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.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Jump To
H. R. 3638 (Introduced-in-House)


117th CONGRESS
1st Session
H. R. 3638


To direct the Federal Trade Commission to transmit to Congress a report on the Commission’s actions related to digital tokens.

IN THE HOUSE OF REPRESENTATIVES

May 28, 2021

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

A BILL

To direct the Federal Trade Commission to transmit to Congress a report on the Commission’s actions related to digital tokens.

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 “Digital Taxonomy Act”.

SEC. 2. Findings.

Congress finds that—

(1) it is important that the United States remains a leader in innovation;

(2) digital tokens and blockchain technology are driving innovation and providing consumers with increased choice and convenience;

(3) the use of digital tokens and blockchain technology is likely to increase in the future;

(4) the Federal Trade Commission is responsible for protecting consumers from unfair or deceptive acts or practices, including relating to digital tokens;

(5) the Commission has previously taken action against unscrupulous companies and individuals that committed unfair or deceptive acts or practices involving digital tokens; and

(6) to bolster the Commission’s ability to enforce against unfair or deceptive acts or practices involving digital tokens, the Commission should ensure staff have appropriate training and resources to identify and pursue such cases.

SEC. 3. Reports on unfair or deceptive acts or practices in transactions relating to digital tokens.

Not later than one year after the date of enactment of this Act and each year thereafter through fiscal year 2024, the Federal Trade Commission shall transmit 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 its website, a report on—

(1) any actions taken by the Commission relating to unfair or deceptive acts or practices in transactions relating to digital tokens;

(2) the Commission’s other efforts to prevent unfair or deceptive acts or practices relating to digital tokens; and

(3) any recommendations by the Commission for legislation that would improve the ability of the Commission and other relevant Federal agencies—

(A) to further protect consumers from unfair or deceptive acts or practices in the digital token marketplace; and

(B) to promote competition and promote innovation in the global digital token sector.