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Bill

HRES 111

Expressing support for blockchain technology and digital assets.

119th Congress Introduced by Don Davis and 3 co-sponsors

Expresses House support for blockchain and digital assets and calls for a domestically developed regulatory framework with investor protections to lead globally.

Referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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Bill Summary · HRES 111

Summary of HRES 111 – Expressing support for blockchain technology and digital assets

What the bill is

  • Type: House Resolution (HRES 111), non-binding sense-of-the-House declaration
  • Introduced: February 5, 2025
  • Status: Referred to the House Committee on Energy and Commerce, and in addition to the Committees on Financial Services and Agriculture, for a period to be determined by the Speaker, for consideration of provisions falling under each committee’s jurisdiction
  • Sponsors: Dusty Johnson (primary); cosponsors include Bryan Steil, Donald G. Davis, and Ritchie Torres
  • Purpose: To express the sense of the House regarding the importance of blockchain technology and digital assets and to outline guiding principles for U.S. leadership and policy

Purpose and intent

The resolution articulates a forward-looking policy stance on digital assets and blockchain technology. It emphasizes the United States’ role in developing and understanding next-generation internet technologies, improving the financial system, and ensuring fair access to financial services. It also highlights the importance of a domestically developed digital asset ecosystem, a tailored regulatory framework, and investor protections aligned with existing securities and commodities markets.

Key provisions and concepts (as stated in the introduced version)

The sense of the House comprises six core points:
1. The United States should prioritize understanding the potential opportunities of the next generation of the internet.
2. The United States should foster tech advances to improve the financial system and broaden fair, equitable access to financial services for everyday Americans.
3. The United States must support the development of digital assets and the underlying technology domestically to prevent shifting development to less regulated jurisdictions abroad.
4. The United States should strive to be a global leader in the development and adoption of digital assets and blockchain technology.
5. Congress should enact a functional framework tailored to the specific risks of various digital asset activities and the unique benefits of distributed ledger technology, distributed networks, and decentralized systems.
6. Consumers and market participants would benefit from a digital-asset framework that aligns with longstanding investor protections in securities and commodities markets, while accommodating the distinctive features and risks of the digital asset ecosystem.

Who/what would be affected

  • Policymaking and regulatory direction for digital assets and blockchain technology
  • U.S. consumers and market participants seeking access to digital assets and related services
  • U.S. financial services, technology, and agricultural sectors (given committee jurisdictions)
  • Investors and developers within the digital asset and blockchain ecosystem
  • Federal agencies involved in securities, commodities, and financial regulation, as the framework guidance would inform potential future actions

Legislative process and timeline

  • The resolution is introductory and non-binding, signaling policy priorities rather than establishing regulatory rules.
  • It has been referred to three committees (Energy and Commerce; Financial Services; Agriculture) for consideration of provisions within their jurisdictions. The period for consideration is to be determined by the Speaker.
  • No specific enforcement mechanisms, funding provisions, or regulatory timelines are included in the provided text; further action would depend on committee deliberations and any potential amendments.

Impact and significance

  • Symbolic impact: Signals congressional intent to prioritize blockchain and digital assets within U.S. policy and regulatory discussions.
  • Strategic impact: Encourages development and leadership in the U.S. by advocating a domestically focused framework and coordinated federal approach.
  • Practical impact: Any resulting legislation or regulatory proposals would derive from committee work and future floor action; the resolution itself does not impose rules or funding.

Note: This summary reflects the content of the introduced version of HRES 111. As the bill progresses, specific amendments or legislative text could alter scope and impact.

Compiled from official sources — confirm details with the bill’s official record.

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