Consumer Safety Technology Act Passes In The House Of Representatives, Heads For Senate
Consumer Safety Technology Act Passes In The House Of Representatives, Heads For Senate
October 1, 2020
Consumer Safety Technology Act Passes In The House Of Representatives, Heads For Senate
Consumer Safety Technology Act Passes In The House Of Representatives, Heads For Senate
October 1, 2020

The updated Consumer Safety Technology Act (now includes the Digital Taxonomy Act and the Blockchain Innovation Act) has passed in the House of Representatives and is now headed for the Senate.

It has been reported that the Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission with preventing unfair trade practices in both.

However, the Blockchain Innovation Act would require the FTC to put together a report on blockchain’s role in consumer protection.

Congressman Darren Soto (D-FL) said:

“As lawmakers, it’s our duty to ensure the United States continues to lead in blockchain technology.”

The report said that the two bills from Soto left the Committee on Energy and Commerce earlier this month. 

Thus, they leave the House rolled together with legislation from Rep. Jerry McNerney (D-CA) that calls for the use of artificial intelligence in consumer safety inspections.

ALSO READ :  Ethereum's Vitalik Buterin Declares Solidarity With Arrested Virgil Griffith

Source: Cointelegraph | Image: ABC News


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!