Bill · H.Res. 111· House(119-HRES-111)
Expressing support for blockchain technology and digital assets.
- Introduced
- 2/5/2025
- Last activity
- 2/5/2025 — Referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Sponsored by
- Dusty Johnson
- Cosponsors
- - 1 - 2
- Introduced
- In Committee
A House resolution is the House speaking for itself: stating a position, honouring someone, or setting its own rules. Adopting it is the whole process. Once the House agrees to it, it is officially the House's word; it is not a law, so the Senate and the President have no part in it.
What this bill would do
This resolution expresses support for blockchain technology and digital assets in the House of Representatives. It points out that digital assets can grow our economy, improve everyday lives, provide creator control, enhance transparency, reduce transaction costs, and increase efficiency. The text notes that some digital asset companies are moving outside of the United States to countries with clear legal frameworks. It also states that digital assets provide law enforcement with a tracing tool to identify illicit activity. Finally, the resolution outlines that the United States should prioritize understanding these technologies, foster financial access, support domestic development, and enact a tailored functional framework for digital assets.
Yes· 3 of 11
Does this give people more protection from unfair business practices?+5
The resolution calls for a functional framework consistent with longstanding investor protections in securities and commodities markets.
Would business owners be better off under this?+4
The resolution notes that U.S. businesses may utilize these technologies in innovative ways.
Is this likely to grow the economy?+4
The text states that digital assets have the potential to grow the economy through improved resource allocation and decision making.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Economic Growth and Everyday Life: The text states in the preambles that the digital asset ecosystem has the potential to grow our economy and improve everyday lives by facilitating collaboration to manage activities, allocate resources, and facilitate decision making. This could benefit individuals by improving how resources and decisions are handled.
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Control and Transparency: The preambles note that blockchain networks and digital assets provide creator control, enhance transparency, reduce transaction costs, and increase efficiency. This is a positive outcome for creators and consumers who want lower costs and clearer transactions.
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Equitable Access: Paragraph (2) states that the United States should seek to foster advances in technology to improve our financial system and create more fair and equitable access to financial services for everyday Americans. This could directly benefit individuals by making financial services more accessible and fair.
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Consumer Protection: Paragraph (6) states that consumers and market participants will benefit from a framework for digital assets consistent with longstanding investor protections in securities and commodities markets, yet tailored to the unique benefits and risks of the digital asset ecosystem. This is intended to protect people who participate in these markets.
Potential Negative Impacts for People
- Based on the provided text, there are no specific sections or provisions identified that outline negative consequences or burdens for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+4Good For Low Income Households+3Good For Middle Class Households+3Good For High Income Households+2Good For Urban Residents+1
- Economy And Finance
- Improves Consumer Protection+5Improves Economic Growth+4Increases Job Creation+3
- Governance And Ideology
- Improves Government Transparency+3
- Social Issues And Justice
- Improves Policing Reform+3
- Education And Technology
- Improves Internet Access+2
- 2/5/2025
- Submitted in House
- Referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 3 Cosponsors added.
Donald DavisDemocrat · North Carolina
Bryan SteilRepublican · Wisconsin
Ritchie TorresDemocrat · New York