HR 8524
Blockchain Records and Transactions Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Blockchain Records and Transactions Act of 2020, aims to clarify the legal status of electronic records, signatures, and ‘smart contracts’ created using blockchain technology. It amends the existing Electronic Signatures in Global and National Commerce Act to ensure these digital records and contracts have the same legal validity and enforceability as traditional documents. The bill also provides a framework for states to potentially modify these rules, but only if those modifications are substantially similar to the federal standards.
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