H.R. 1664: Deploying American Blockchains Act of 2025

The bill, known as the Deploying American Blockchains Act of 2025, aims to enhance the United States' position and competitiveness in the realm of blockchain technology and other distributed ledger technologies. Below are the main components and actions proposed by the bill:

1. Leadership Role of the Secretary of Commerce

The Secretary of Commerce is designated as the primary advisor to the President on matters related to blockchain technology and its applications. Their responsibilities include:

• Developing policies and recommendations addressing risks associated with the technology.
• Promoting the stability and security of blockchain systems and applications.
• Establishing a Blockchain Deployment Program to advance U.S. leadership in this technology.
• Enhancing national security and economic stability in relation to blockchain technology.
• Coordinating with the public to disseminate best practices in the use of blockchain.
• Engaging with Federal agencies to maximize their use of blockchain technology.

2. Policy Development and Best Practices

The Secretary will create and support best practices concerning:

• Shared technologies that enhance the effectiveness of blockchain.
• The interoperability of blockchain across different platforms.
• Key security systems that protect blockchain assets.
• Reducing risks related to cybersecurity and other vulnerabilities.
• Assessing the economic benefits and potential cost savings of implementing blockchain solutions.

3. Stakeholder Collaboration

In implementing the bill’s initiatives, the Secretary will:

• Consult regularly with stakeholders from the private and public sectors.
• Collaborate with various experts and organizations to ensure effective deployment of blockchain technology.
• Share research findings and standardize terminology to facilitate better understanding of blockchain applications.

4. Reporting Requirements

The Secretary must submit a public report to Congress within two years of the bill becoming law and continue to provide annual updates. These reports will cover:

• A summary of the activities undertaken related to blockchain.
• Recommendations for further legislation to improve U.S. competitiveness in blockchain.
• Insights into emerging risks and trends in the blockchain landscape.

5. Termination of Program

The Blockchain Deployment Program is set to conclude seven years following the enactment of the bill.

Definitions

The bill clarifies key terms such as:

• Blockchain technology or other distributed ledger technology: A distributed digital database that securely shares and verifies information across a network.
• Token: A digital representation of information stored on blockchain technology.
• Tokenization: The process of creating a token on a blockchain.

Additional Provisions

The bill does not obligate private entities to share information or request assistance from the Secretary, ensuring that businesses retain their autonomy over blockchain implementations.

Relevant Companies

• COIN - Coinbase: A platform for buying, selling, and managing cryptocurrency, which could see impacts in regulatory and operational aspects with enhanced blockchain policies.
• RIOT - Riot Blockchain: A cryptocurrency mining company that may benefit from increased support and regulatory clarity for blockchain operations.
• BLK - BlackRock: An asset management firm that has shown interest in blockchain and digital assets, potentially impacted by new policies promoting blockchain adoption.