; and (B) submits to the head of the executive agency, who shall not later than 30 days thereafter submit to the appropriate congressional committees, a full and complete laydown of the presences of covered distributed ledger technology and blockchain equipment or services in the entity’s supply chain and a phase-out plan to eliminate such covered distributed ledger technology and blockchain equipment or services. (2) Elements of the intelligence community Beginning on the effective date under subsection (d), each head of an element of the intelligence community may waive the requirements under subsection (a) if such head determines the waiver is in the national security interests of the United States. 4. Reports to defend against risks posed by covered distributed ledger technology and blockchain equipment or services (a) In general Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Secretary of the Treasury, the Secretary of State, and the Director of National Intelligence shall jointly, and in consultation with the officials specified in subsection (b), submit to Congress a report that includes the following: (1) A description of interagency policies and procedures to defend the United States financial markets, United States sanctions, United States business interests in the People's Republic of China, and global supply chains from the economic and national security risks posed by covered distributed ledger technology and blockchain equipment or services. (2) A description of commercial and public administration activities used by the Government of the People’s Republic of China and the Chinese Communist Party involving the entities listed under subparagraphs (A) through (E) of section 7(2), including militarization, industrialization, international trade, and other commercial activity. (3) An assessment of the foreign policy and national security risks to the United States relating to transactions using covered distributed ledger technology and blockchain