H.R. 4814 — what changed

changed the term “consumer product” consumer product has the meaning given such term in section 3(a) of the Consumer Product Safety Act (15 U.S.C. 2052(a)); and2052(a));

changed the term “Secretary” Secretary means the Secretary of Commerce.Commerce; and

changed Establishment— Not later than 1 year after the date of the enactment of this Act, the Consumer Product Safety Commission shall establish a pilot program to explore the use of artificial intelligence by the Commission in support of the consumer product safety mission of the Commission.Commission, as described in section 2(b) of the Consumer Product Safety Act (15 U.S.C. 2051(b)).

changed Consult Consistent with section 6 of the Consumer Product Safety Act (15 U.S.C. 2055), consult with the following:

changed Report to Congress— Not later than 180 days 1 year after the conclusion of the pilot program established under subsection (a), the Consumer Product Safety Commission 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 Commission, a report on the findings and data derived from such program, including whether and the extent to which the use of artificial intelligence improved the ability of the Commission to advance the consumer product safety mission of the Commission.

changed 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 current and potential use of blockchain technology in commerce and the potential benefits possible uses of blockchain technology for limiting consumer protection purposes, including preventing or mitigating fraud and other unfair or deceptive acts or practices.

changed trends in the commercial use of existing and investment in emerging uses of blockchain technology;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);

changed best practices trends in facilitating public-private partnerships the commercial use of and investment in blockchain technology;technology to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A);

changed potential benefits and risks of best practices in facilitating public-private partnerships in blockchain technology for consumer protection;to prevent or mitigate fraud and other unfair or deceptive acts or practices as described in subparagraph (A);

changed how potential benefits and risks related to the use of blockchain technology can be used by industry and consumers to reduce prevent or mitigate fraud and increase the security of commercial transactions;other unfair or deceptive acts or practices as described in subparagraph (A);

changed areas in possible modifications to Federal regulation 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 which greater clarity would encourage domestic innovation; subparagraph (A); and

changed any other relevant observations or recommendations related to the use of blockchain technology and for consumer protection.protection purposes, including preventing or mitigating fraud and other unfair or deceptive acts or practices as described in subparagraph (A).

changed digital tokens and blockchain technology are driving innovation and providing consumers with increased choice and convenience;

changed the use of digital tokens and blockchain technology is likely to increase in the future;

changed the Federal Trade Commission is responsible for protecting consumers from unfair or deceptive acts or practices, including relating to digital tokens;

changed the Commission has previously taken action against unscrupulous companies and individuals that committed unfair or deceptive acts or practices involving digital tokens; and

changed to bolster the Commission’s ability to enforce against unfair or deceptive acts or practices involving digital tokens, the Commission should ensure staff have appropriate training and resources to identify and pursue such cases.

changed any actions taken by the Commission relating to unfair or deceptive acts or practices in transactions relating to digital tokens;

changed any other efforts of the Commission to prevent unfair or deceptive acts or practices relating to digital tokens; and

changed any recommendations by the Commission for legislation that would improve the ability of the Commission and other relevant Federal agencies—agencies to further protect consumers from unfair or deceptive acts or practices in the token marketplace.