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Consumer Protection in Digital Tokens: New FTC Reports

This act aims to enhance consumer protection against fraud involving digital tokens, such as cryptocurrencies. The Federal Trade Commission (FTC) will regularly report on its actions in this area, which should help identify and prosecute unfair practices. This will allow citizens to feel more secure when using new financial technologies.
Key points
The FTC will annually publish reports on actions against digital token fraud.
Reports will include recommendations for better consumer protection and promoting fair competition.
The act aims to ensure FTC staff have adequate training and resources to combat unfair practices in this field.
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Additional Information
Print number: 117_HR_3638
Sponsor: Rep. Soto, Darren [D-FL-9]
Process start date: 2021-05-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Digital Taxonomy Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3638.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-28.

What are the main provisions?

Key points include:

  • The FTC will annually publish reports on actions against digital token fraud.
  • Reports will include recommendations for better consumer protection and promoting fair competition.
  • The act aims to ensure FTC staff have adequate training and resources to combat unfair practices in this field.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Soto, Darren [D-FL-9].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Consumer Protection and Commerce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law