Sponsors (3)
Introduced April 10, 2025 by Bernardo Moreno · Last progress April 10, 2025
The bill centralizes federal coordination and creates statutory clarity and reporting to accelerate responsible blockchain adoption and U.S. competitiveness, but it risks freezing technical definitions, concentrating industry influence, imposing taxpayer costs, and introducing security or consumer‑protection gaps if safeguards and broad stakeholder input are insufficient.
Federal agencies and staff: gain a single, Secretary-of‑Commerce‑led advisory structure and coordination mechanism to provide expert guidance on blockchain/DLT, improving interagency efficiency and interoperability.
Tech developers and financial institutions: receive statutory definitions for blockchain, token, and tokenization that reduce regulatory uncertainty and ease product design and deployment.
Federal systems, utilities, and critical services: benefit from an advisory focus on cybersecurity best practices and resiliency measures that can reduce cyber risk to government operations and critical infrastructure.
Tech developers, financial institutions, and policymakers: face the risk that narrow statutory definitions will freeze rapidly evolving technical terms, causing future regulatory mismatch or reduced flexibility.
Consumers, small businesses, and taxpayers: may be disadvantaged if industry representatives dominate the advisory process, biasing recommendations toward private commercial interests rather than consumer protections or competition.
Stakeholders outside favored industry circles: risk reduced influence because centralizing authority in the Commerce Department and a formal advisory committee could concentrate decision-making and privilege certain actors.
Based on analysis of 4 sections of legislative text.
Makes the Commerce Secretary the White House advisor on blockchain policy, creates a national advisory committee, and requires interim and final reports on deployment, risks, and recommendations.
Designates the Secretary of Commerce as the White House advisor on policy for deploying blockchain and other distributed ledger technologies, and requires creation of a National Blockchain Deployment Advisory Committee to evaluate uses, risks, security, and federal preparedness. The Secretary must stand up the committee within 180 days and produce regular interim reports (first due within two years and then annually) and a final report with findings and recommendations to inform federal action on applications, tokens, and tokenization. The measure sets definitions for blockchain/DLT, tokens, and tokenization; defines who may serve on the advisory committee (including federal agency representatives and nongovernmental members, but excluding non‑Federal governments); directs the committee to study topics like decentralized identity, cybersecurity, AI interactions, fraud reduction, health care applications, supply chain resiliency, and national security; and requires publication and transmittal of interim and final reports. The text does not appropriate funds or change existing laws directly—it is primarily an advisory and coordination framework to guide federal policy and practice on blockchain technologies.