| 1 | 1 | | IV |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. RES. 111 |
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| 5 | 5 | | Expressing support for blockchain technology and digital assets. |
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| 6 | 6 | | IN THE HOUSE OF REPRESENTATIVES |
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| 7 | 7 | | FEBRUARY5, 2025 |
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| 8 | 8 | | Mr. J |
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| 9 | 9 | | OHNSONof South Dakota (for himself, Mr. STEIL, Mr. DAVISof North |
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| 10 | 10 | | Carolina, and Mr. T |
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| 11 | 11 | | ORRESof New York) submitted the following resolu- |
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| 12 | 12 | | tion; which was referred to the Committee on Energy and Commerce, and |
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| 13 | 13 | | in addition to the Committees on Financial Services, and Agriculture, for |
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| 14 | 14 | | a period to be subsequently determined by the Speaker, in each case for |
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| 15 | 15 | | consideration of such provisions as fall within the jurisdiction of the com- |
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| 16 | 16 | | mittee concerned |
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| 17 | 17 | | RESOLUTION |
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| 18 | 18 | | Expressing support for blockchain technology and digital |
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| 19 | 19 | | assets. |
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| 20 | 20 | | Whereas entrepreneurs and innovators are building and de- |
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| 21 | 21 | | ploying this next generation of the internet; |
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| 22 | 22 | | Whereas digital asset networks represent a new way for peo- |
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| 23 | 23 | | ple to join together and cooperate with one another to |
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| 24 | 24 | | undertake certain activities; |
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| 25 | 25 | | Whereas digital assets have the potential to be the |
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| 26 | 26 | | foundational building blocks of these networks, aligning |
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| 27 | 27 | | the economic incentive for individuals to cooperate with |
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| 28 | 28 | | one another to achieve a common purpose; |
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| 29 | 29 | | VerDate Sep 11 2014 01:06 Feb 06, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6300 E:\BILLS\HR111.IH HR111 |
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| 30 | 30 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 31 | 31 | | •HRES 111 IH |
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| 32 | 32 | | Whereas the digital asset ecosystem has the potential to grow |
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| 33 | 33 | | our economy and improve everyday lives of Americans by |
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| 34 | 34 | | facilitating collaboration through the use of technology to |
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| 35 | 35 | | manage activities, allocate resources, and facilitate deci- |
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| 36 | 36 | | sion making; |
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| 37 | 37 | | Whereas blockchain networks and the digital assets they em- |
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| 38 | 38 | | power provide creator control, enhance transparency, re- |
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| 39 | 39 | | duce transaction costs, and increase efficiency; |
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| 40 | 40 | | Whereas blockchain technology facilitates new types of net- |
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| 41 | 41 | | work participation which businesses in the United States |
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| 42 | 42 | | may utilize in innovative ways; |
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| 43 | 43 | | Whereas digital asset companies are establishing operations |
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| 44 | 44 | | outside of the United States, in countries that embrace |
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| 45 | 45 | | the potential of blockchain technology and digital assets |
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| 46 | 46 | | and provide safeguards for consumers through clear legal |
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| 47 | 47 | | frameworks; and |
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| 48 | 48 | | Whereas digital assets, despite the purported anonymity, pro- |
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| 49 | 49 | | vide law enforcement with an exceptional tracing tool to |
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| 50 | 50 | | identify illicit activity and bring criminals to justice: |
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| 51 | 51 | | Now, therefore, be it |
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| 52 | 52 | | Resolved, That it is the sense of the House of Rep-1 |
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| 53 | 53 | | resentatives that— 2 |
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| 54 | 54 | | (1) the United States should seek to prioritize 3 |
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| 55 | 55 | | understanding the potential opportunities of the next 4 |
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| 56 | 56 | | generation of the internet; 5 |
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| 57 | 57 | | (2) the United States should seek to foster ad-6 |
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| 58 | 58 | | vances in technology to improve our financial system 7 |
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| 59 | 59 | | and create more fair and equitable access to finan-8 |
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| 60 | 60 | | cial services for everyday Americans; 9 |
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| 61 | 61 | | VerDate Sep 11 2014 01:06 Feb 06, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\HR111.IH HR111 |
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| 62 | 62 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 63 | 63 | | •HRES 111 IH |
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| 64 | 64 | | (3) the United States must support the develop-1 |
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| 65 | 65 | | ment of digital assets and the underlying technology 2 |
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| 66 | 66 | | in the United States or risk the shifting of the devel-3 |
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| 67 | 67 | | opment of such assets and technology outside of the 4 |
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| 68 | 68 | | United States, to less regulated countries; 5 |
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| 69 | 69 | | (4) the United States should strive to be a glob-6 |
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| 70 | 70 | | al leader in the development and adoption of digital 7 |
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| 71 | 71 | | assets and blockchain technology; 8 |
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| 72 | 72 | | (5) Congress should enact a functional frame-9 |
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| 73 | 73 | | work tailored to the specific risks of different digital 10 |
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| 74 | 74 | | asset-related activities and unique benefits of distrib-11 |
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| 75 | 75 | | uted ledger technology, distributed networks, and de-12 |
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| 76 | 76 | | centralized systems; and 13 |
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| 77 | 77 | | (6) consumers and market participants will ben-14 |
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| 78 | 78 | | efit from a framework for digital assets consistent 15 |
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| 79 | 79 | | with longstanding investor protections in securities 16 |
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| 80 | 80 | | and commodities markets, yet tailored to the unique 17 |
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| 81 | 81 | | benefits and risks of the digital asset ecosystem. 18 |
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| 82 | 82 | | Æ |
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| 83 | 83 | | VerDate Sep 11 2014 01:06 Feb 06, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\HR111.IH HR111 |
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| 84 | 84 | | ssavage on LAPJG3WLY3PROD with BILLS |
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