Bill > HR8153

This bill, the Blockchain Innovation Act, requires the Department of Commerce to consult with the Federal Trade Commission and other relevant agencies to study the potential applications of blockchain technology, including its use in addressing fraud and other unfair or deceptive practices. The study will examine trends in the commercial use and investment in blockchain technology, best practices in public-private partnerships, potential benefits and risks of blockchain for consumer protection, how blockchain can be used to reduce fraud and increase transaction security, and areas in federal regulation where greater clarity could encourage domestic innovation. The bill also requires the Secretary of Commerce to submit a report on the study's findings to Congress and make it publicly available on the Department's website.