I 
117TH CONGRESS 
1ST SESSION H. R. 1602 
To direct the Commodity Futures Trading Commission and the Securities 
and Exchange Commission to jointly establish a digital asset working 
group, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 8, 2021 
Mr. MCHENRY (for himself, Mr. LYNCH, Mr. THOMPSON of Pennsylvania, Mr. 
BUDD, and Mr. DAVIDSON) introduced the following bill; which was re-
ferred to the Committee on Financial Services, and in addition to the 
Committee on Agriculture, for a period to be subsequently determined by 
the Speaker, in each case for consideration of such provisions as fall with-
in the jurisdiction of the committee concerned 
A BILL 
To direct the Commodity Futures Trading Commission and 
the Securities and Exchange Commission to jointly estab-
lish a digital asset working group, and for other pur-
poses. 
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 ‘‘Eliminate Barriers to 
Innovation Act of 2021’’. 
VerDate Sep 11 2014 
06:16 Mar 16, 2021
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H1602.IH
H1602
pbinns on DSKJLVW7X2PROD with BILLS
SEC. 2. WORKING GROUP TO SUPPORT INNOVATION WITH 
RESPECT TO DIGITAL ASSETS. 
(a) ESTABLISHMENT.—Not later than 90 days after 
the date of the enactment of this section, the Securities 
and Exchange Commission and the Commodity Futures 
Trading Commission shall jointly establish a working 
group (to be known as the ‘‘SEC and CFTC Working 
Group on Digital Assets’’) to carry out the report required 
under subsection (c)(1). 
(b) MEMBERSHIP.— 
(1) IN GENERAL.—The Working Group shall be 
composed of members appointed in accordance with 
paragraph (2). 
(2) APPOINTMENT OF MEMBERS.— 
(A) 
REPRESENTATIVES
OF
COMMIS-
SIONS.—The Securities and Exchange Commis-
sion and the Commodity Futures Trading Com-
mission shall each appoint an equal number of 
employees of each such Commission to serve as 
members of the Working Group. 
(B) REPRESENTATIVES
OF
NONGOVERN-
MENTAL STAKEHOLDERS.— 
(i) 
APPOINTMENT.—The 
Securities 
and Exchange Commission and the Com-
modity Futures Trading Commission shall 
each appoint an equal number of non-
VerDate Sep 11 2014 
06:16 Mar 16, 2021
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H1602.IH
H1602
pbinns on DSKJLVW7X2PROD with BILLS
governmental representatives to serve as 
members of the Working Group, except 
that such number of members may not be 
greater than or equal to the number of 
members appointed under subparagraph 
(A). 
(ii) REQUIRED MEMBERS.—The mem-
bers of the Working Group appointed 
under clause (i) shall include at least one 
representative from each of the following: 
(I) Financial technology compa-
nies that provide products or services 
involving digital assets. 
(II) Financial firms under the ju-
risdiction of the Securities and Ex-
change Commission or the Commodity 
Futures Trading Commission. 
(III) Institutions or organizations 
engaged in academic research or advo-
cacy relating to digital asset use. 
(IV) Small businesses engaged in 
financial technology. 
(V) Investor protection organiza-
tions. 
VerDate Sep 11 2014 
06:16 Mar 16, 2021
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H1602.IH
H1602
pbinns on DSKJLVW7X2PROD with BILLS