119-hres111

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 111 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
H. RES. 111

 Expressing support for blockchain technology and digital assets.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 5, 2025

Mr. Johnson of South Dakota (for himself, Mr. Steil, Mr. Davis of North 
 Carolina, and Mr. Torres of New York) submitted the following 
resolution; which was 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

_______________________________________________________________________

 RESOLUTION

 Expressing support for blockchain technology and digital assets.

Whereas entrepreneurs and innovators are building and deploying this next 
 generation of the internet;
Whereas digital asset networks represent a new way for people to join together 
 and cooperate with one another to undertake certain activities;
Whereas digital assets have the potential to be the foundational building blocks 
 of these networks, aligning the economic incentive for individuals to 
 cooperate with one another to achieve a common purpose;
Whereas the digital asset ecosystem has the potential to grow our economy and 
 improve everyday lives of Americans by facilitating collaboration 
 through the use of technology to manage activities, allocate resources, 
 and facilitate decision making;
Whereas blockchain networks and the digital assets they empower provide creator 
 control, enhance transparency, reduce transaction costs, and increase 
 efficiency;
Whereas blockchain technology facilitates new types of network participation 
 which businesses in the United States may utilize in innovative ways;
Whereas digital asset companies are establishing operations outside of the 
 United States, in countries that embrace the potential of blockchain 
 technology and digital assets and provide safeguards for consumers 
 through clear legal frameworks; and
Whereas digital assets, despite the purported anonymity, provide law enforcement 
 with an exceptional tracing tool to identify illicit activity and bring 
 criminals to justice: Now, therefore, be it
 Resolved, That it is the sense of the House of Representatives 
that--

    (1) the United States should seek to prioritize 
 understanding the potential opportunities of the next 
 generation of the internet;

    (2) 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;

    (3) the United States must support the development of 
 digital assets and the underlying technology in the United 
 States or risk the shifting of the development of such assets 
 and technology outside of the United States, to less regulated 
 countries;

    (4) the United States should strive to be a global leader 
 in the development and adoption of digital assets and 
 blockchain technology;

    (5) Congress should enact a functional framework tailored 
 to the specific risks of different digital asset-related 
 activities and unique benefits of distributed ledger 
 technology, distributed networks, and decentralized systems; 
 and

    (6) 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.
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