1. Short title This Act may be cited as the Blockchain Records and Transactions Act of 2020 . 2. Amendments to Electronic Signatures in Global and National Commerce Act (a) Validity of electronic records, electronic signatures, and smart contracts using blockchain Section 101(a) of the Electronic Signatures in Global and National Commerce Act ( 15 U.S.C. 7001(a) ) is amended— (1) in paragraph (1), by striking ; and and inserting a semicolon; (2) in paragraph (2), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following: (3) an electronic record, electronic signature, or smart contract may not be denied legal effect, validity, or enforceability solely because it is created, stored, or secured on or through a blockchain. . (b) Exemption to preemption Section 102 of the Electronic Signatures in Global and National Commerce Act ( 15 U.S.C. 7002 ) is amended— (1) in subsection (a)— (A) in the heading, by striking In general and inserting Electronic records and electronic signatures generally ; and (B) in the matter preceding paragraph (1), by inserting , except for paragraph (3) of section 101(a), after the provisions of section 101 ; (2) by redesignating subsections (b) and (c) as subsections (c) and (d), respectively; and (3) by inserting after subsection (a) the following: (b) Electronic records, electronic signatures, and smart contracts using blockchain A State statute, regulation, or other rule of law may modify, limit, or supersede paragraph (3) of section 101(a) with respect to State law only if such statute, regulation, or rule of law is substantially similar to such paragraph. . (c) Definitions Section 106 of the Electronic Signatures in Global and National Commerce Act ( 15 U.S.C. 7006 ) is amended— (1) by redesignating paragraphs (12) and (13) as paragraphs (14) and (15), respectively; (2) by redesignating paragraphs (1) through (11) as paragraphs (2) through (12), respectively