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Analyze S2766 - Consumer Safety Technology Act | DoTheySupportIt

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Analyze S2766 - Consumer Safety Technology Act

S2766

Consumer Safety Technology Act

This bill directs the Consumer Product Safety Commission to establish an AI pilot program. More relevant to crypto, it mandates a study by the Secretary of Commerce on blockchain technology's potential for consumer protection, including fraud prevention and potential regulatory modifications. Additionally, it requires the Federal Trade Commission to report on unfair or deceptive practices related to tokens, defined broadly as transferable digital representations on distributed ledger technology, while acknowledging their innovative nature.

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