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New NFT Rules: Not Securities, Consumer Protection Focus.

This act clarifies that certain non-fungible tokens (NFTs) used for personal purposes, like art or collectibles, are not considered securities. This means their trading won't be subject to strict stock market regulations, potentially making them easier to use in daily life. Simultaneously, the act mandates a study of the NFT market to better understand its impact and risks for citizens.
Key points
NFTs for personal use (e.g., art, games) are not classified as securities, simplifying their trading.
NFTs marketed as investments or with promised value increases may still be treated as securities.
A study of the NFT market will be conducted to assess its role, risks (e.g., cybersecurity), and benefits (e.g., verifiable digital ownership).
The act aims to provide legal clarity for NFT creators and users while protecting consumers.
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Expired
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Additional Information
Print number: 118_HR_10544
Sponsor: Rep. Timmons, William R. [R-SC-4]
Process start date: 2024-12-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

New Frontiers in Technology Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10544.

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 2024-12-20.

What are the main provisions?

Key points include:

  • NFTs for personal use (e.g., art, games) are not classified as securities, simplifying their trading.
  • NFTs marketed as investments or with promised value increases may still be treated as securities.
  • A study of the NFT market will be conducted to assess its role, risks (e.g., cybersecurity), and benefits (e.g., verifiable digital ownership).
  • The act aims to provide legal clarity for NFT creators and users while protecting consumers.
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. Timmons, William R. [R-SC-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Courts and Law Economy Informatization