Consumer Safety Technology Act

A new definition of 'token' was added in Section 2: a transferrable, digital representation of information recorded on a blockchain or other distributed ledger technology.

Title III was renamed from 'Digital Token Taxonomy' to 'Token Taxonomy,' and the term 'digital tokens' was replaced with 'tokens' throughout the bill.

The blockchain study scope was narrowed from examining 'current and potential use of blockchain technology in commerce' broadly to focusing specifically on 'possible uses of blockchain technology for consumer protection purposes, including preventing or mitigating fraud.'

All six elements of the blockchain study (Section 202(a)(2)) were rewritten to center on preventing or mitigating fraud and unfair or deceptive acts, removing broader topics like general commercial trends, domestic innovation encouragement, and transaction security.

The FTC token report no longer includes recommendations to 'promote competition and promote innovation in the global digital token sector,' removing the pro-innovation/competition policy goal from the reporting mandate.

The CPSC AI pilot program report deadline was extended from 180 days after the conclusion of the pilot program to 1 year after the conclusion.

The FTC token report requirement was changed from an annual report for two years (three total reports) to a single report due one year after enactment.

The CPSC AI pilot program report no longer asks 'whether and the extent to which' AI improved the mission, but only 'the extent to which,' removing the binary yes/no framing.

A cross-reference was added to Section 102(a) clarifying that the consumer product safety mission is as described in section 2(b) of the Consumer Product Safety Act, and a constraint was added to Section 102(b)(2) requiring consultations to be conducted consistent with section 6 of the Consumer Product Safety Act.