Findings

Congress finds that— (1) it is important that the United States remains a leader in innovation; (2) tokens and blockchain technology are driving innovation and providing consumers with increased choice and convenience; (3) the use of tokens and blockchain technology is likely to increase in the future; (4) the Federal Trade Commission is responsible for protecting consumers from unfair or deceptive acts or practices, including relating to tokens; (5) the Commission has previously taken action against unscrupulous companies and individuals that committed unfair or deceptive acts or practices involving tokens; and (6) to bolster the Commission’s ability to enforce against unfair or deceptive acts or practices involving tokens, the Commission should ensure staff have appropriate training and resources to identify and pursue such cases.