H.R. 1770
Consumer Safety Technology Act
Sponsor: Darren Soto
3 cosponsors
Official summary
Written by the Congressional Research Service.
Consumer Safety Technology Act
This bill (1) establishes a pilot program to explore the use of artificial intelligence to support the Consumer Product Safety Commission (CPSC), and (2) requires reports related to blockchain technology and digital tokens.
Specifically, the CPSC must consult with relevant stakeholders, such as data scientists and product manufacturers, and use artificial intelligence for a least one of the following purposes: (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.
The bill also requires (1) the Department of Commerce to report on existing and emerging uses of blockchain technology for consumer protection, and (2) the Federal Trade Commission to report on its efforts to prevent unfair or deceptive practices relating to digital tokens.
Text of the bill
I Artificial Intelligence and Consumer Product Safety
II Blockchain Technology Innovation
(a) In general
(1) Study required. Not later than 1 year after the date of the enactment of this Act, the Secretary of Commerce, in consultation with the Federal Trade Commission and any other Federal agency the Secretary determines appropriate, shall complete a study on the possible uses of blockchain technology for consumer protection purposes, including preventing or mitigating fraud and other unfair or deceptive acts or practices.
(2) Requirements for study. In conducting the study required by paragraph (1), the Secretary shall examine—
(A) existing and emerging uses of blockchain technology that could help protect consumers, including by preventing or mitigating fraud and other unfair or deceptive acts or practices within the meaning of section 5 of the Federal Trade Commission Act (15 U.S.C. 45);
(B) trends in the commercial use of and investment in blockchain technology to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A);
(C) best practices in facilitating public-private partnerships in blockchain technology to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A);
(D) potential benefits and risks related to the use of blockchain technology to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A);
(E) possible modifications to Federal regulations that could encourage the use of blockchain technology to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A); and
(F) any other relevant observations or recommendations related to the use of blockchain technology for consumer protection purposes, including preventing or mitigating fraud and other unfair or deceptive acts or practices as described in subparagraph (A).
(3) Public comment. In conducting the study required by paragraph (1), the Secretary shall provide opportunity for public comment and advice relevant to conducting the study.
(b) Report to Congress. Not later than 6 months after the completion of the study required by subsection (a)(1), the Secretary 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, and make publicly available on the website of the Department of Commerce, a report that contains the results of such study.
III Token Taxonomy