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ARTICLE · 28 JUNE 2021

Blockchain & Consumer Protection Bill Passes House With Strong Bi-Partisan Support

Frankfurt Kurnit Klein & Selz PC
Frankfurt Kurnit Klein & Selz PC
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Frankfurt Kurnit Klein & Selz PC

Frankfurt Kurnit Klein & Selz PC

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The "Consumer Safety Technology Act" (H.R. 3723), sponsored by Rep. Jerry McNerney (D-CA), recently passed the House. The final vote tally was 325-103.

United StatesTechnology

The "Consumer Safety Technology Act” (H.R. 3723), sponsored by Rep. Jerry McNerney (D-CA), recently passed the House. The final vote tally was 325-103.

The Act would require the Secretary of Commerce, in conjunction with the Federal Trade Commission (FTC), to study and report on the use of blockchain technology and digital tokens and the potential benefits of blockchain technology for limiting fraud and other unfair and deceptive acts and practices, including:

  • trends in the commercial use of and investment in blockchain technology;
  • best practices in facilitating public-private partnerships in blockchain technology;
  • potential benefits and risks of blockchain technology for consumer protection;

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This post first appeared in Frankfurt Kurnit's Focus on the Data blog (www.focusonthedata.com). It provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

Originally published by the New York Legal Ethics Reporter

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

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