I 

116TH CONGRESS 

2D SESSION H. R. 8524 

To amend the Electronic Signatures in Global and National Commerce Act 

to clarify the applicability of such Act to electronic records, electronic 

signatures, and smart contracts created, stored, or secured on or through 

a blockchain, to provide uniform national standards regarding the legal 

effect, validity, and enforceability of such records, signatures, and contracts, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 2, 2020 

Mr. SCHWEIKERT (for himself and Mr. SOTO) introduced the following bill; 

which was referred to the Committee on Energy and Commerce 

A BILL 

To amend the Electronic Signatures in Global and National 

Commerce Act to clarify the applicability of such Act 

to electronic records, electronic signatures, and smart 

contracts created, stored, or secured on or through a 

blockchain, to provide uniform national standards regarding the legal effect, validity, and enforceability of such 

records, signatures, and contracts, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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•HR 8524 IH

1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Blockchain Records 

3 and Transactions Act of 2020’’. 

4 SEC. 2. AMENDMENTS TO ELECTRONIC SIGNATURES IN 

5 GLOBAL AND NATIONAL COMMERCE ACT. 

6 (a) VALIDITY OF ELECTRONIC RECORDS, ELEC7 TRONIC SIGNATURES, AND SMART CONTRACTS USING

8 BLOCKCHAIN.—Section 101(a) of the Electronic Signa9 tures in Global and National Commerce Act (15 U.S.C. 

10 7001(a)) is amended— 

11 (1) in paragraph (1), by striking ‘‘; and’’ and 

12 inserting a semicolon; 

13 (2) in paragraph (2), by striking the period at 

14 the end and inserting ‘‘; and’’; and 

15 (3) by adding at the end the following: 

16 ‘‘(3) an electronic record, electronic signature, 

17 or smart contract may not be denied legal effect, va18 lidity, or enforceability solely because it is created, 

19 stored, or secured on or through a blockchain.’’. 

20 (b) EXEMPTION TO PREEMPTION.—Section 102 of 

21 the Electronic Signatures in Global and National Com22 merce Act (15 U.S.C. 7002) is amended— 

23 (1) in subsection (a)— 

24 (A) in the heading, by striking ‘‘IN GEN25 ERAL’’ and inserting ‘‘ELECTRONIC RECORDS


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•HR 8524 IH

1 AND ELECTRONIC SIGNATURES GENERALLY’’; 

2 and 

3 (B) in the matter preceding paragraph (1), 

4 by inserting ‘‘, except for paragraph (3) of sec5 tion 101(a),’’ after ‘‘the provisions of section 

6 101’’; 

7 (2) by redesignating subsections (b) and (c) as 

8 subsections (c) and (d), respectively; and 

9 (3) by inserting after subsection (a) the fol10 lowing: 

11 ‘‘(b) ELECTRONIC RECORDS, ELECTRONIC SIGNA12 TURES, AND SMART CONTRACTS USING BLOCKCHAIN.— 

13 A State statute, regulation, or other rule of law may mod14 ify, limit, or supersede paragraph (3) of section 101(a) 

15 with respect to State law only if such statute, regulation, 

16 or rule of law is substantially similar to such paragraph.’’. 

17 (c) DEFINITIONS.—Section 106 of the Electronic Sig18 natures in Global and National Commerce Act (15 U.S.C. 

19 7006) is amended— 

20 (1) by redesignating paragraphs (12) and (13) 

21 as paragraphs (14) and (15), respectively; 

22 (2) by redesignating paragraphs (1) through 

23 (11) as paragraphs (2) through (12), respectively; 

24 (3) by inserting before paragraph (2) (as so re25 designated) the following: 


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•HR 8524 IH

1 ‘‘(1) BLOCKCHAIN.—The term ‘blockchain’ 

2 means software that uses a distributed digital ledger 

3 of cryptographically signed transactions that are 

4 grouped into blocks, each of which— 

5 ‘‘(A) is cryptographically linked to the pre6 vious block after validation and undergoing a 

7 consensus decision; and 

8 ‘‘(B) when added as a new block, makes 

9 any older blocks more difficult to modify and is 

10 replicated across all copies of the ledger within 

11 the relevant network, with any conflicts in such 

12 blocks resolved automatically using established 

13 rules.’’; and 

14 (4) by inserting after paragraph (12) (as so re15 designated) the following: 

16 ‘‘(13) SMART CONTRACT.—The term ‘smart 

17 contract’ means a computer program that reflects an 

18 agreement, in whole or in part, between two or more 

19 parties to execute transactions automatically based 

20 on the occurrence of agreed-upon events.’’. 

Æ 


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