Crypto Bills, 116th Congress
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BillShort TitleSponsor
Date Introduced
PurposeCurrent StatusDate of Current Status UpdateRelevant Snippet
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HR 1414FinCEN Improvement ActWexton, Jennifer (D-VA-10)2/27/2019To amend the duties of the Financial Crimes Enforcement Network (FinCEN) to ensure FinCEN works with Tribal law enforcement agencies, protects against all forms of terrorism, and focuses on virtual currenciesPassed House, received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs3/12/2019SEC. 2. FINDINGS. . . . (4) Although the use and trading of virtual currencies are legal practices, some terrorists and criminals, including international criminal organizations, seek to exploit vulnerabilities in the global financial system and are increasingly using emerging payment methods such as virtual currencies to move illicit funds.
. . .
SEC. 3. STRENGTHENING FINCEN. Section 310 of title 31, United States Code, is amended-- . . . (4) in paragraph (H), by striking "anti-terrorism and anti-money laundering initiatives, and similar efforts’’ and inserting ‘‘anti-terrorism and anti-money laundering initiatives, including matters involving emerging technologies or value that substitutes for currency, and similar efforts’’.
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HR 295End Banking for Human Traffickers ActFitzpatrick, Brian K. (R-PA-1)1/8/2019To increase the role of the financial industry in combating human traffickingReferred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services
Foreign Affairs Committee agreed to seek consideration under suspension of the rules
3/7/2019(1) IN GENERAL.—Not later than 270 days after the date of the enactment of this Act, the Interagency Task Force To Monitor and Combat Trafficking shall submit to the Committee on Financial Services and the Committee on the Judiciary of the House of Representatives, the Committee on Banking, Housing, and Urban Affairs and the Committee on the Judiciary of the Senate, and the head of each appropriate Federal banking agency—
(A) an analysis of anti-money laundering efforts of the United States Government and United States financial institutions relating to severe forms of trafficking in persons; and
(B) appropriate legislative, administrative, and other recommendations to strengthen efforts against money laundering relating to severe forms of trafficking in persons.
(2) REQUIRED RECOMMENDATIONS.—The recommendations under paragraph (1) shall include—

(E) recommended changes, if necessary, to existing statutory law to more effectively detect and deter money laundering relating to severe forms of trafficking in persons, where such money laundering involves the use of emerging technologies and virtual currencies.
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S 582FinCEN Improvement Act
Cortez Masto, Catherine (D-NV)
2/27/2019To amend the duties of the Financial Crimes Enforcement Network (FinCEN) to ensure FinCEN works with Tribal law enforcement agencies, protects against all forms of terrorism, and focuses on virtual currenciesReferred to the Committee on Banking, Housing, and Urban Affairs2/27/2019SEC. 2. FINDINGS. . . . (4) Although the use and trading of virtual currencies are legal practices, some terrorists and criminals, including international criminal organizations, seek to exploit vulnerabilities in the global financial system and are increasingly using emerging payment methods such as virtual currencies to move illicit funds.
. . .
SEC. 3. STRENGTHENING FINCEN. Section 310 of title 31, United States Code, is amended-- . . . (4) in paragraph (H), by striking "anti-terrorism and anti-money laundering initiatives, and similar efforts’’ and inserting ‘‘anti-terrorism and anti-money laundering initiatives, including matters involving emerging technologies or value that substitutes for currency, and similar efforts’’.
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HR 1387Criminal Organizations’ Narcotics, Finances, Resources, Operations, and Networks Targeting (CONFRONT) ActKustoff, David (R-TN-8)2/27/19To require the President to develop a national strategy to combat the financial networks of transnational organized criminals, and for other purposesReferred to the Committee on Financial Services2/27/2019SEC. 3. CONTENTS OF NATIONAL STRATEGY [to combat the financial networks of transnational organized criminals].

The national strategy required under section 2 shall contain the following:
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(B) An assessment of methods by which trans­na­tion­al organized crime groups launder illicit proceeds, including money laundering using real estate and other tangible goods such as art and antiquities, trade-based money laundering, bulk-cash smuggling, exploitation of shell companies, and misuse of digital currencies and other cyber technologies, as well as an assessment of the risk to the financial system of the United States of such methods.
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HR 1361Blockchain Promotion ActMatsui, Doris O. (D-CA-6)2/26/2019To direct the Secretary of Commerce to establish a working group to recommend to Congress a definition of blockchain technology, and for other purposesReferred to the Committee on Energy and Commerce, and in addition to the Committee on Oversight and Reform2/26/2019
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S 553Blockchain Promotion ActYoung, Todd C. (R-IN)2/26/2019To direct the Secretary of Commerce to establish a working group to recommend to Congress a definition of blockchain technology, and for other purposes.Referred to the Committee on Commerce, Science, and Transportation2/26/2019
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HR 922Virtual Currency Consumer Protection ActSoto, Darren (D-FL-9)1/30/2019To promote fair and transparent virtual currency markets by examining the potential for price manipulationReferred to the Committee on Financial Services, and in addition to the Committee on Agriculture
Referred to the (Agriculture) Subcommittee on Commodity Exchanges, Energy, and Credit
2/25/2019
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HR 923U.S. Virtual Currency Market and Regulatory Competitiveness ActSoto, Darren (D-FL-9)1/30/2019To promote United States competitiveness in the evolving global virtual currency marketplaceReferred to the Committee on Financial Services, and in addition to the Committee on Agriculture
Referred to the (Agriculture) Subcommittee on Commodity Exchanges, Energy, and Credit
2/25/2019
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S 410FIND Trafficking Act
Cortez Masto, Catherine (D-NV)
2/7/2019To require the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and for other purposesReferred to the Committee on Banking, Housing, and Urban Affairs2/7/2019
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HR 56Financial Technology Protection ActBudd, Ted (R-NC-13)1/3/2019To establish an Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposesPassed House, received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs1/29/2019
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S 245Damon Paul Nelson and Matthew Young Pollard Intelligence Authorization Act for Fiscal Years 2018 and 2019Burr, Richard (R-NC)1/28/2019To authorize appropriations for fiscal year 2019 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System.Referred to the Select Committee on Intelligence1/28/2019SEC. 732. REPORT ON POSSIBLE EXPLOITATION OF VIRTUAL CURRENCIES BY TERRORIST ACTORS.
(a) Short Title.—This section may be cited as the “Stop Terrorist Use of Virtual Currencies Act”.

(b) Report.—Not later than 1 year after the date of the enactment of this Act, the Director of National Intelligence, in consultation with the Secretary of the Treasury, shall submit to Congress a report on the possible exploitation of virtual currencies by terrorist actors. Such report shall include the following elements:

(1) An assessment of the means and methods by which international terrorist organizations and State sponsors of terrorism use virtual currencies.

(2) An assessment of the use by terrorist organizations and State sponsors of terrorism of virtual currencies compared to the use by such organizations and States of other forms of financing to support operations, including an assessment of the collection posture of the intelligence community on the use of virtual currencies by such organizations and States.

(3) A description of any existing legal impediments that inhibit or prevent the intelligence community from collecting information on or helping prevent the use of virtual currencies by international terrorist organizations and State sponsors of terrorism and an identification of any gaps in existing law that could be exploited for illicit funding by such organizations and States.
...
(c) Form Of Report.—The report required by subsection (b) shall be submitted in unclassified form, but may include a classified annex.
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S 149Stop Senior Scams ActCasey, Robert P., Jr. (D-PA)1/16/2019To establish a Senior Scams Prevention Advisory CouncilReferred to the Committee on Commerce, Science, and Transportation1/16/2019SEC. 2. Senior Scams Prevention Advisory Council
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(b) Members.—The Advisory Council shall be composed of the following members or the designees of those members:
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(5) Not more than 2 representatives from each of the following sectors, including trade associations, to be selected by the Chairman of the Federal Trade Commission:
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(G) Financial services, including institutions who engage in digital currency.
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HR 528Blockchain Regulatory Certainty ActEmmer, Tom (R-MN-6)1/14/2019To provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain servicesReferred to the Committee on Financial Services, and in addition to the Committee on the Judiciary1/14/2019
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HR 502FIND Trafficking ActVargas, Juan (D-CA-51)1/11/2019To require the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and for other purposesPassed House, received in the Senate and referred to the Committee on Homeland Security and Governmental Affairs1/11/2019
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HR 428Homeland Security Assessment of Terrorists’ Use of Virtual Currencies ActRice, Kathleen M. (D-NY-4)1/10/2019To direct the Under Secretary of Homeland Security for Intelligence and Analysis to develop and disseminate a threat assessment regarding terrorist use of virtual currency.1/10/2019
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HR 41RESCUE Act for Black and Community BanksRush, Bobby L. (D-IL-1)1/3/2019To provide regulatory relief for Black and community banks, to codify the Minority Bank Deposit Program, and for other purposesReferred to the Committee on Financial Services, and in addition to the Committee on Ways and Means1/3/2019(c) Blockchain study.—The Comptroller General of the United States shall carry out a study on blockchain technology and whether such technology could be used to increase investment by lower-income individuals in start-ups and other crowd-funded companies.
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