,,ib ,union ,cal5d> ,no4 #djc #aah?     
,,congress  #b;d ,session  ,h4 ,r4 #agdg
 ,report ,no4 #aah-dhf ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,m>* #bc1         
#bjbc,mr4 ,emm] 7= himself & ,mr4 ,soto7
 introduc$ ! foll[+ bill2 :i* 0 ref]r$  
to ! ,committee on ,f9ancial ,s]vices   
,may #f1 #bjbd,report$ ) an am5dm5t1    
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
printed,strike out all aft] ! enact+    
clause & ins]t ! "p pr9t$ 9 italic,for  
text ( introduc$ bill1 see copy ( bill z
 introduc$ on ,m>* #bc1 #bjbc  ,a ,,bill
  ,to provide a safe h>bor f lic5s+ &   
regi/ration = c]ta9 non-controll+       
block*a9 develop]s & provid]s ( block*a9
 s]vices4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,block*a9 ,regulatory      
,c]ta9ty ,act4  #b4 ,safe h>bor =       
non-controll+ block*a9 develop]s &      
provid]s ( block*a9 s]vices  7a7        
,protection = non-,controll+ block*a9   
s]vices & s(tw>e develop]s ,no block*a9 
develop] or provid] ( a block*a9 s]vice 

%all be treat$ z a money transmitt] 7z  
def9$ "u ,/ate lic5s+ laws71 a f9ancial 
in/itution 7z def9$ "u section #ecab (  
title #ca1 ,unit$ ,/ates ,code71 or any 
o!r ,/ate or ,f$]al legal designation   
requir+ lic5s+ or regi/ration z a       
condition to act+ z a block*a9 develop] 
or provid] ( a block*a9 s]vice1 unless !
 develop] or provid] has1 9 ! regul>    
c\rse ( bus9ess1 control ov] digital    
assets to :i* a us] is entitl$ "u !     
block*a9 s]vice or ! s(tw>e creat$1     
ma9ta9$1 or dissem9at$ by ! block*a9    
develop]4  7b7 ,effect on o!r laws  7#a7
 ,intellectual prop]ty law ,no?+ 9 ?is  
section %all be con/ru$ to limit or exp&
 any law p]ta9+ to intellectual prop]ty4
  7#b7 ,/ate law ,no?+ 9 ?is section    
%all be con/ru$ to prev5t any ,/ate f   
en=c+ any ,/ate law t is consi/5t ) ?is 
section4 ,no cause ( action may be      
br\ght & no liability may be impos$ "u  
any ,/ate or local law t is inconsi/5t )
 ?is section4  7c7 ,def9itions ,z us$ 9 
?is section3 7#a7 ,block*a9 develop] ,! 

t]m block*a9 develop] means any p]son or
 bus9ess t creates1 ma9ta9s1 or         
dissem9ates s(tw>e facilitat+ ! creation
 or ma9t5ance ( a block*a9 network or a 
block*a9 s]vice4  7#b7 ,block*a9 network
 ,! t]m block*a9 network means any sy/em
 ( network$ comput]s t coop]ates to rea*
 cons5sus ov] ! /ate ( a comput] program
 & all[s us]s to p>ticipate 9 !         
cons5sus-mak+ process )\t ! ne$ to      
lic5se propriet>y s(tw>e or obta9       
p]mission f any o!r us]4 ,! t]m block*a9
 network includes1 specifically1 a      
public network ( comput]s t coop]ates to
 rea* cons5sus ov] ! /ate ( a di/ribut$ 
l$g] describ+ transactions 9 a digital  
asset4  7#c7 ,block*a9 s]vice ,! t]m    
block*a9 s]vice means any in=mation1    
transaction1 or comput+ s]vice or sy/em 
t provides or enables access to a       
block*a9 network by multiple us]s1      
includ+ specifically a s]vice or sy/em t
 enables us]s to s5d1 receive1 ex*ange1 
or /ore digital assets describ$ by      
block*a9 networks4  7#d7 ,control ,! t]m

 control means ! legal "r1 au?ority1 or 
ability to obta9 ^u dem& data suffici5t 
to initiate transactions sp5d+ an am\nt 
( digital assets4  7#e7 ,digital asset  
,! t]m digital asset means any =m (     
intangible p]sonal prop]ty t c be       
exclusively possess$ & transf]r$ p]son  
to p]son )\t necess>y reliance on an    
int]m$i>y4  ,may #f1 #bjbd,report$ ) an 
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$