Expressing support for blockchain technology and digital assets.
This is a non-binding House resolution that publicly expresses support for blockchain technology and digital assets and lays outolicy directions for Congress. It frames blockchain and digital assets as foundational building blocks of a next-generation internet and economic system, capable of improving collaboration, efficiency, transparency, and access to financial services. The resolution urges the United States to lead in development and adoption, to keep these technologies and activities domestically, and to enact a functional regulatory framework tailored to the unique risks and benefits of digital assets and distributed networks. It also notes that existing investor protections should be adapted to fit the digital asset ecosystem, while recognizing the role of law enforcement in tracing illicit activity. Because it is a resolution, not a bill that creates new laws or funding, it serves as policy guidance to committees (Energy and Commerce; Financial Services; Agriculture) to consider provisions within their jurisdiction and to shape future legislation or regulatory actions.
Key Points
- 1The United States should prioritize understanding the opportunities of the next generation of the internet and foster advances in technology to improve the financial system and expand fair access to financial services.
- 2The United States must support the development of digital assets and the underlying technology domestically to prevent development from migrating to other countries with clearer frameworks.
- 3The United States should strive to be a global leader in the development and adoption of digital assets and blockchain technology.
- 4Congress should enact a functional regulatory framework tailored to the specific risks and benefits of digital asset activities, as well as to distributed ledger technology, distributed networks, and decentralized systems.
- 5Consumers and market participants should benefit from a framework that aligns with longstanding protections in securities and commodities markets while being tailored to the unique features and risks of the digital asset ecosystem.
- 6The resolution asserts that digital assets can aid law enforcement through tracing capabilities, even as it emphasizes clear consumer protections and appropriate safeguards.