Title: Advancing Blockchain Act
Policy area: Commerce

Summary:
Advancing Blockchain Act
This bill requires the Department of Commerce to study and report on the impact of blockchain technology on U.S. businesses conducting interstate commerce.
Such study shall involve, among other things, (1) listing industry sectors that develop and use blockchain technology and public-private partnerships focused on promoting the adoption and use of such technology, (2) establishing a list of federal agencies asserting jurisdiction over such industry sectors and entities, and (3) assessing risks and trends in the marketplace and supply chain of blockchain technology.
Commerce must report to Congress the results of such study and any recommendations to promote the adoption of blockchain technology.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6938 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6938

 To require the Secretary of Commerce and the Federal Trade Commission 
  to conduct a study on blockchain technology, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 19, 2020

 Mr. Guthrie introduced the following bill; which was referred to the 
Committee on Energy and Commerce, and in addition to the Committees on 
Science, Space, and Technology, and Foreign Affairs, 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

_______________________________________________________________________

                                 A BILL


 
 To require the Secretary of Commerce and the Federal Trade Commission 
  to conduct a study on blockchain technology, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Advancing Blockchain Act''.

SEC. 2. BLOCKCHAIN TECHNOLOGY STUDY.

    (a) In General.--
            (1) Study required.--Not later than 2 years after the date 
        of the enactment of this Act, the Secretary of Commerce and the 
        Federal Trade Commission, in coordination with the head of any 
        other appropriate Federal agency, shall conduct a study on the 
        impact of blockchain technology on United States businesses 
        conducting interstate commerce.
            (2) Requirements for study.--In conducting the study, the 
        Secretary and the Commission shall do the following:
                    (A) Conduct a survey on blockchain technology 
                through outreach to participating entities to--
                            (i) establish a list of the industry 
                        sectors that develop and use blockchain 
                        technology;
                            (ii) establish a list of public-private 
                        partnerships focused on promoting the adoption, 
                        and use of blockchain technology;
                            (iii) provide a description of the ways 
                        industry sectors develop, use, or promote the 
                        use of blockchain technology;
                            (iv) provide a description of the 
                        advantages or disadvantages of the widespread 
                        adoption of blockchain technology; and
                            (v) consider how blockchain technology may 
                        be used to--
                                    (I) increase market competition in 
                                each of the industry sectors identified 
                                under clause (i);
                                    (II) increase individual's data 
                                privacy and enhance data security;
                                    (III) better protect individual's 
                                identity;
                                    (IV) better secure monetary 
                                transactions; and
                                    (V) any other use that may benefit 
                                society.
                    (B) Conduct a survey of Federal activity related to 
                blockchain technology to--
                            (i) establish a comprehensive list of 
                        Federal agencies asserting jurisdiction over 
                        entities and industry sectors identified under 
                        subparagraph (A)(i);
                            (ii) identify all interagency activities 
                        related to blockchain technology;
                            (iii) develop a brief description of the 
                        jurisdiction and expertise of the Federal 
                        agencies as it relates to blockchain 
                        technology; and
                            (iv) identify each Federal rule, 
                        regulation, guideline, policy, and other 
                        Federal activity implemented by each Federal 
                        agency related to blockchain.
                    (C) Conduct an international survey of other 
                countries to establish a compendium at least 10 and not 
                more than 15 countries consisting of each country's 
                national strategy on blockchain technology to determine 
                where the United States ranks with respect to the 
                adoption of blockchain technology.
                    (D) Conduct a survey of the marketplace and supply 
                chain of blockchain to--
                            (i) assess the severity of risks posed to 
                        such marketplace and supply chain;
                            (ii) review the ability of foreign 
                        governments or third parties to exploit such 
                        supply chain in a manner that raises risks to 
                        the economic and national security of the 
                        United States; and
                            (iii) identify emerging risks and long-term 
                        trends in such marketplace and supply chain.
    (b) Report to Congress.--Not later than 6 months after the 
completion of the study required pursuant to subsection (a), the 
Secretary and the Commission, in coordination with the head of any 
other appropriate Federal agency, shall submit to the Committee on 
Energy and Commerce of the House of Representatives and the Committee 
on Commerce, Science, and Transportation of the Senate a report that 
contains--
            (1) the results of the study conducted under subsection 
        (a); and
            (2) recommendations to--
                    (A) address any duplicative Federal rule, 
                regulation, guideline, and other Federal activity 
                acting as a barrier to the adoption of blockchain 
                technology;
                    (B) develop and implement a comprehensive plan to 
                promote the growth of the adoption of blockchain 
                technology;
                    (C) develop policies that States can adopt to 
                encourage the adoption of blockchain;
                    (D) develop a national strategy to advance the 
                position in the world of business sectors in the United 
                States on the adoption of blockchain technology;
                    (E) develop strategies to mitigate current and 
                emerging risks to the marketplace and supply chain of 
                blockchain; and
                    (F) develop legislation to accomplish such 
                recommendations.
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