Bill > S1492

This bill establishes a comprehensive framework for the United States to advance and support blockchain technology through the Department of Commerce. The bill requires the Secretary of Commerce to serve as the principal advisor to the President on blockchain technology, its applications, and competitiveness. To accomplish this, the Secretary will establish a National Blockchain Deployment Advisory Committee composed of representatives from federal agencies, technology experts, industry professionals, and other stakeholders. The committee's responsibilities include examining blockchain technology's potential uses, risks, and opportunities across various sectors such as cybersecurity, healthcare, e-commerce, and supply chain management. The bill mandates that the Secretary develop best practices for blockchain deployment, promote technological interoperability, reduce cybersecurity risks, and support both public and private sector blockchain initiatives. The Secretary must also produce annual reports to Congress detailing the committee's activities, emerging trends, and recommendations for legislation. Importantly, the bill does not require private entities to share information or implement recommendations, providing flexibility for industry participants. The Advisory Committee will operate for seven years, with a final comprehensive report to be submitted to Congress and the President 18 months before its termination. The legislation aims to position the United States as a global leader in blockchain technology and its potential applications.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/senate-bill/1492/all-info