This bill directs three federal actions focused on consumer safety technology.
First, the Consumer Product Safety Commission (CPSC) must set up a pilot program within 1 year to explore using artificial intelligence to support its product safety work. The pilot must use AI for at least one of these purposes: track injury trends, identify product hazards, monitor the retail marketplace (including websites) for recalled products, or identify products that should be refused entry at customs. The CPSC must consult technologists, cybersecurity experts, retailers, manufacturers, consumer safety organizations, and others it finds appropriate. The CPSC must report findings and data to two congressional committees and post the report online within 1 year after the pilot ends.
Second, the Secretary of Commerce must complete a study within 1 year, in consultation with the Federal Trade Commission and other agencies as appropriate, on possible uses of blockchain technology for consumer protection, including preventing or mitigating fraud and other unfair or deceptive acts. The study must examine uses, trends, public-private partnership practices, benefits and risks, possible regulatory changes, and other observations. The Secretary must provide opportunity for public comment and must submit the study results to two congressional committees and post the report online within 6 months after completing the study.
Third, the Federal Trade Commission (FTC) must submit a report within 1 year that describes any FTC actions related to unfair or deceptive acts involving tokens, other FTC efforts to prevent such acts, and any legislative recommendations to improve protection of consumers in the token marketplace.
No publicly available information.
The bill includes findings that say: it is important the United States remain a leader in innovation; tokens and blockchain technology are driving innovation and giving consumers more choice and convenience; use of tokens and blockchain is likely to increase; the FTC is responsible for protecting consumers from unfair or deceptive acts involving tokens; the FTC has taken action against bad actors involving tokens; and the FTC should ensure staff have appropriate training and resources to identify and pursue such cases.
No publicly available information.