I 
117TH CONGRESS 
1ST SESSION H. R. 3639 
To direct the Secretary of Commerce, in consultation with the Federal Trade 
Commission, to conduct a study and submit to Congress a report on 
the state of blockchain technology and its use in consumer protection, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 28, 2021 
Mr. SOTO (for himself and Mr. GUTHRIE) introduced the following bill; which 
was referred to the Committee on Energy and Commerce 
A BILL 
To direct the Secretary of Commerce, in consultation with 
the Federal Trade Commission, to conduct a study and 
submit to Congress a report on the state of blockchain 
technology and its use in consumer protection, and for 
other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Blockchain Innovation 
Act’’. 
VerDate Sep 11 2014 
06:38 Jun 24, 2021
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3639.IH
H3639
kjohnson on DSK79L0C42PROD with BILLS
SEC. 2. STUDY ON BLOCKCHAIN TECHNOLOGY AND ITS USE 
IN CONSUMER PROTECTION. 
(a) IN GENERAL.— 
(1) STUDY
REQUIRED.—Not later than one 
year after the date of enactment of this Act, the 
Secretary of Commerce, in consultation with the 
Federal Trade Commission and any other Federal 
agency the Secretary determines appropriate, shall 
conduct a study on current and potential use of 
blockchain technology in commerce and the potential 
benefits of blockchain technology for limiting fraud 
and other unfair and deceptive acts and practices. 
(2) REQUIREMENTS
FOR
STUDY.—In con-
ducting the study required by paragraph (1), the 
Secretary shall examine— 
(A) trends in the commercial use of and 
investment in blockchain technology; 
(B) best practices in facilitating public-pri-
vate partnerships in blockchain technology; 
(C) 
potential 
benefits 
and 
risks 
of 
blockchain technology for consumer protection; 
(D) how blockchain technology can be used 
by industry and consumers to reduce fraud and 
increase the security of commercial trans-
actions; 
VerDate Sep 11 2014 
06:38 Jun 24, 2021
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3639.IH
H3639
kjohnson on DSK79L0C42PROD with BILLS
(E) 
areas 
in 
Federal 
regulation 
of 
blockchain technology where greater clarity 
would encourage domestic innovation; and 
(F) any other relevant observations or rec-
ommendations related to blockchain technology 
and consumer protection. 
(3) PUBLIC
COMMENT.—In conducting the 
study required by paragraph (1), the Secretary shall 
provide opportunity for public comment and advice 
relevant to conducting the study. 
(b) REPORT
TO
CONGRESS.—Not later than 6 
months after the completion of the study required by sub-
section (a)(1), the Secretary shall submit to the Com-
mittee on Energy and Commerce of the House of Rep-
resentatives and the Committee on Commerce, Science, 
and Transportation of the Senate, and make publicly 
available on the website of the Department of Commerce, 
a report that contains the results of such study. 
Æ 
VerDate Sep 11 2014 
06:38 Jun 24, 2021
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H3639.IH
H3639
kjohnson on DSK79L0C42PROD with BILLS