H.R.3633 - Digital Asset Market Clarity Act of 2025 119th Congress (2025-2026) Section Summary:

SEC. 505.Study on non-fungible tokens. (a) In general.—The Comptroller General of the United States shall carry out a study of non-fungible tokens that analyzes— (1) the nature, size, role, purpose, and use of non-fungible tokens; (2) the similarities and differences between non-fungible tokens and other digital commodities, including digital commodities and permitted payment stablecoins, and how the markets for those digital commodities intersect with each other; (3) how non-fungible tokens are minted by issuers and subsequently administered to purchasers; (4) how non-fungible tokens are stored after being purchased by a consumer; (5) the interoperability of non-fungible tokens between different blockchain systems; (6) the scalability of different non-fungible tokens marketplaces; (7) the benefits of non-fungible tokens, including verifiable digital ownership; (8) the risks of non-fungible tokens, including— (A) intellectual property rights; (B) cybersecurity risks; and (C) market risks; (9) whether and how non-fungible tokens have integrated with traditional marketplaces, including those for music, real estate, gaming, events, and travel; (10) whether and how non-fungible tokens can be used to facilitate commerce or other activities through the representation of documents, identification, contracts, licenses, and other commercial, government, or personal records; (11) any potential risks to traditional markets from such integration; and (12) the levels and types of illicit activity in non-fungible tokens markets. (b) Report.—Not later than 1 year after the date of the enactment of this Act, the Comptroller General, shall make publicly available a report that includes the results of the study required by subsection (a).