New Frontiers in Technology Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10544 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10544 To specify the treatment of covered non-fungible tokens under the securities laws, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES December 20, 2024 Mr. Timmons (for himself and Mr. Torres of New York) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To specify the treatment of covered non-fungible tokens under the securities laws, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``New Frontiers in Technology Act''. SEC. 2. TREATMENT OF COVERED NON-FUNGIBLE TOKENS UNDER THE SECURITIES LAWS. (a) In General.--For purposes of the securities laws-- (1) a covered non-fungible token is not an investment contract; and (2) an offer or sale of a covered non-fungible token is not a transactio…