A bipartisan bill that urges for a deeper dive into blockchain and crypto tokens reportedly obtained the approval of the House of Representatives on June 22.

Specifically, the bill – dubbed “Consumer Safety Technology Act” – reportedly revolves around consumer protection, with virtual tokens and blockchain study included within the scope. 

The bill reportedly passed the 117th Congress in under a week from when it was rolled out, following a 325-103 voting result in favor. 

The bill has reportedly hit this milestone in the past, under the Trump administration specifically, and passed the House in September last year. The process moved the bill to the Committee on Commerce, Science, and Transportation, before getting dismissed in the Senate. 

The bill – among other topics – reportedly urges the Consumer Product Safety Commission to establish a pilot AI program to support consumer safety inspections, nominally determining consumer product hazards and tracking trends, in association with injuries related to consumer products.

Furthermore, the bill reportedly urged for the Secretary of Commerce and the Federal Trade Commission (FTC) to “study and report on the use of blockchain technology and digital tokens.”

Two additional bills focusing on crypto are reportedly also covered within the scope of the Consumer Safety Technology Act – the Blockchain Innovation Act together with parts of the Digital Taxonomy Act – which make it mandatory for the FTC report on “unfair or deceptive acts or practices in transactions relating to digital tokens.”