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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 604 Introduced in House (IH)]

<DOC>

118th CONGRESS
  1st Session
H. RES. 604

    Expressing support for blockchain technology and digital assets.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 2023

  Mr. Johnson of South Dakota (for himself, Mr. Hill, Mr. Flood, Mr. 
Torres of New York, and Mr. Nickel) submitted the following resolution; 
  which was referred to the Committee on Energy and Commerce, and in 
addition to the Committees on Financial Services, and Agriculture, for 
a period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                               RESOLUTION

 
    Expressing support for blockchain technology and digital assets.

Whereas entrepreneurs and innovators are building and deploying this next 
        generation of the internet;
Whereas digital asset networks represent a new way for people to join together 
        and cooperate with one another to undertake certain activities;
Whereas digital assets have the potential to be the foundational building blocks 
        of these networks, aligning the economic incentive for individuals to 
        cooperate with one another to achieve a common purpose;
Whereas the digital asset ecosystem has the potential to grow our economy and 
        improve everyday lives of Americans by facilitating collaboration 
        through the use of technology to manage activities, allocate resources, 
        and facilitate decision making;
Whereas blockchain networks and the digital assets they empower provide creator 
        control, enhance transparency, reduce transaction costs, and increase 
        efficiency;
Whereas blockchain technology facilitates new types of network participation 
        which businesses in the United States may utilize in innovative ways;
Whereas other digital asset companies are setting up their operations outside of 
        the United States, where countries are establishing frameworks to 
        embrace the potential of blockchain technology and digital assets and 
        provide safeguards for consumers; and
Whereas digital assets, despite the purported anonymity, provide law enforcement 
        with an exceptional tracing tool to identify illicit activity and bring 
        criminals to justice: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives 
that--
            (1) the United States should seek to prioritize 
        understanding the potential opportunities of the next 
        generation of the internet;
            (2) the United States should seek to foster advances in 
        technology to improve our financial system and create more fair 
        and equitable access to financial services for everyday 
        Americans;
            (3) the United States must support the development of 
        digital assets and the underlying technology in the United 
        States or risk the shifting of the development of such assets 
        and technology outside of the United States, to less regulated 
        countries;
            (4) Congress should enact a functional framework tailored 
        to the specific risks of different digital asset-related 
        activities and unique benefits of distributed ledger 
        technology, distributed networks, and decentralized systems; 
        and
            (5) consumers and market participants will benefit from a 
        framework for digital assets consistent with longstanding 
        investor protections in securities and commodities markets, yet 
        tailored to the unique benefits and risks of the digital asset 
        ecosystem.
                                 <all>
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