Consumer Safety Technology Act

Floor Speech

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Mr. SOTO. Mr. Speaker, I rise in strong support of my bill, the Consumer Safety Technology Act, H.R. 4814.

It directs the Consumer Product Safety Commission to launch a pilot program to explore the use of artificial intelligence to track injury trends, identify hazards, monitor recalls, and identify products not meeting importation requirements.

It also requires the Department of Commerce and other agencies to study blockchain technology in the context of consumer products and safety. It also directs the Department of Commerce and the Federal Trade Commission to report on their efforts to address unfair and deceptive trade practices related to digital tokens and to promote innovation.

We heard in committee, Mr. Speaker, that the crooks are already using AI on the internet and that we need the cops on the beat to have artificial intelligence as well to keep our consumers safe.

Let's think about it. The internet is nearly infinite, and so are the ways to push unsafe products and put consumers in harm's way. That is why the Federal Trade Commission testified before our committee that the use of artificial intelligence would help them protect consumers by tracking trends of injuries involving a myriad of consumer products. Thousands of injuries happen each day. It helps with identifying consumer product hazards, categorizing them, and monitoring the sale of recalled consumer products. Think of how much commerce happens every day in America. It helps to identify consumer products that do not meet the importation requirements.

It also requires a report to Congress on how and to what extent artificial intelligence improved the agency's ability to advance its mission.

The FTC also testified it would help them save money in that it would be a really economic and efficient way to deploy other members of the FTC to go after other areas. I do agree with the ranking member that that is no substitute for making sure they have the full funding that they need.

In addition, the blockchain technology study directs the Department of Commerce to study the applications of blockchain and to address fraud and unfair and deceptive trade practices. Blockchain can be used in so many different ways, whether it is through cryptocurrency, through storing data, through cybersecurity, or through communications. Of course, this should be done in consultation with the Federal Trade Commission, the FTC.

Finally, we have commissioned the Federal Trade Commission to report to Congress on unfair and deceptive trade practices relating to tokens. We have also seen a need to protect consumers and promote innovation. We eventually need rules of the road, and this is helping get us there with blockchain. We need more certainty so we can have growth in both blockchain and cryptocurrency firms in the United States, giving them an understanding and certainty of the laws and their obligations, and also to protect consumers from scams like pump and dump, whitewashing, and other financial schemes.

Mr. Speaker, for that and more, I am thrilled to be able to have this bill be heard on the floor, and I thank my colleagues, Representatives Burgess, Trahan, Guthrie, Castor, my fellow Floridian, Chairman Gus Bilirakis, and our Ranking Member Frank Pallone for including this on the agenda today.

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