Discover crypto policymakers in Kentucky

Blockchain Promotion Act of 2021

This bill directs the Department of Commerce to establish the Blockchain Working Group to submit a report to Congress that contains a recommended definition of the distributed ledger technology commonly referred to as blockchain technology and other specified recommendations regarding this technology.

Consumer Safety Technology Act

This bill requires various agencies to explore the use of emerging technologies in the context of consumer products and safety. First, the Consumer Product Safety Commission must consult with relevant stakeholders, such as data scientists and product manufacturers, and use artificial intelligence in a pilot program for a least one of the following processes: (1) tracking trends in injuries involving consumer products, (2) identifying consumer product hazards, (3) monitoring the sale of recalled consumer products, or (4) identifying consumer products that do not meet specified importation requirements related to product safety.

Additionally, the Department of Commerce must consult with the Federal Trade Commission (FTC) and other relevant agencies to study potential applications of blockchain technology (i.e., the technology that supports digital currencies such as Bitcoin), including the use of such technology to address fraud and other unfair or deceptive practices.

Finally, the FTC must report on its efforts to address unfair or deceptive trade practices related to digital tokens (i.e., transferable units of a digital currency).

Blockchain Innovation Act

This bill requires the Department of Commerce to consult with the Federal Trade Commission and other relevant agencies to study potential applications of blockchain technology (i.e., the technology that supports digital currencies such as Bitcoin), including the use of such technology to address fraud and other unfair or deceptive practices.