Union Calendar No. 417
118th CONGRESS 2d Session |
[Report No. 118–501]
To direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.
December 4, 2023
Mr. Bucshon (for himself and Ms. Blunt Rochester) introduced the following bill; which was referred to the Committee on Energy and Commerce
May 10, 2024
Additional sponsors: Mrs. Cammack and Mr. Soto
May 10, 2024
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on December 4, 2023]
To direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
In this Act:
(1) BLOCKCHAIN TECHNOLOGY OR OTHER DISTRIBUTED LEDGER TECHNOLOGY.—The term “blockchain technology or other distributed ledger technology” means a distributed digital database where data is—
(A) shared across a network of computers to create a ledger of verified information among network participants;
(2) COVERED NONGOVERNMENTAL REPRESENTATIVES.—The term “covered nongovernmental representatives” means representatives as specified in the second sentence of section 135(b)(1) of the Trade Act of 1974 (19 U.S.C. 2155(b)(1)), except that such term does not include representatives of non-Federal governments.
(4) STATE.—The term “State” means each of the several States, the District of Columbia, each commonwealth, territory, or possession of the United States, and each federally recognized Indian Tribe.
SEC. 3. Department of Commerce leadership on blockchain.
(a) Function of Secretary.—The Secretary shall serve as the principal advisor to the President for policy pertaining to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization.
(b) Activities.—The Secretary shall take actions necessary and appropriate to support the leadership of the United States with respect to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization, including by—
(1) developing policies and recommendations on issues and risks related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization, including the issues of decentralized identity, cybersecurity, key storage and security systems, artificial intelligence, fraud reduction, regulatory compliance, e-commerce, health care applications, and supply chain resiliency;
(2) supporting and promoting the stability, maintenance, improvement, and security of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(3) helping to promote the leadership of the United States with respect to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization through the establishment of a Blockchain Deployment Program in the Department of Commerce;
(4) promoting the national security and economic security of the United States with respect to blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(5) supporting engagement with the public to promote the best practices described in subsection (c);
(6) considering policies and programs to encourage and improve coordination among Federal agencies with respect to the deployment of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(7) examining—
(A) how Federal agencies can benefit from utilizing blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(B) the current use by Federal agencies of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(C) the current and future preparedness and ability of Federal agencies to adopt blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization; and
(D) additional security measures Federal agencies may need to take to—
(8) supporting coordination of the activities of the Federal Government related to the security of blockchain technology and other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization; and
(9) not later than 180 days after the date of the enactment of this Act, establishing advisory committees to support the adoption of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization, the membership of which shall include—
(C) nongovernmental stakeholders with expertise related to blockchain technology or other distributed ledger technology, including—
(i) blockchain technology or other distributed ledger technology infrastructure operators, suppliers, service providers, and vendors;
(ii) application developers building on blockchain technology or other distributed ledger technology;
(iii) developers and organizations supporting the advancement and deployment of public blockchain technology or other distributed ledger technology;
(c) Best practices.—The Secretary shall, on an ongoing basis, facilitate and support the development and dissemination of best practices with respect to blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization that—
(1) support the private sector, the public sector, and public-private partnerships in the deployment of technologies needed to advance the capabilities of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(2) support the interoperability of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(3) support operations, including hashing and key storage and security systems, that form the foundation of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(4) reduce cybersecurity and other risks that may compromise blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(5) reduce uncertainty and risks in the use of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization; and
(6) quantify the value and potential cost savings associated with adoption of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization, including through comparative analyses of competing and existing technologies within specific industry applications.
(d) Additional requirements.—In carrying out this section, the Secretary shall—
(1) consult closely and regularly with stakeholders, including private sector individuals and entities, and incorporate industry expertise;
(2) collaborate with private sector stakeholders to identify prioritized, flexible, repeatable, performance-based, and cost-effective approaches to the deployment of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(3) disseminate research and information pertaining to the use of, and marketplace for, blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(4) develop standardized terminology for, and promote common understanding of, blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(5) ensure the best practices described in subsection (c) facilitate the ease of use of blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization;
(e) Rules of construction.—Nothing in this section may be construed to—
Not later than 2 years after the date of the enactment of this Act, and annually thereafter, the Secretary shall make public on the website of the Department of Commerce and submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report that includes—
(2) any recommendations by the Secretary for additional legislation to strengthen the competitiveness of the United States with respect to blockchain technology or other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization; and
Union Calendar No. 417 | |||||
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[Report No. 118–501] | |||||
A BILL | |||||
To direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes. | |||||
May 10, 2024 | |||||
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed |