H.R. 7067 · 117th Congress
Closing Loopholes in Russia Sanctions Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ShermanSponsorNo cosponsors.
This bill requires and authorizes various actions relating to digital assets, such as cryptocurrencies, and sanctions relating to Russia.
What it does: CRS summary · Introduced in House · Mar 11, 2022
Closing Loopholes in Russia Sanctions Act of 2022
This bill requires and authorizes various actions relating to digital assets, such as cryptocurrencies, and sanctions relating to Russia.
Specifically, the bill (1) authorizes the President to impose sanctions on a foreign person (i.e., individual or entity) in the digital asset industry that facilitates transactions involving persons subject to U.S. sanctions relating to Russia; (2) prohibits digital asset exchanges from transacting with digital asset wallets or cryptocurrency addresses that are known to be, or could reasonably be known to be, affiliated with persons headquartered in Russia; and (3) requires U.S. taxpayers holding a certain amount of cryptocurrency in non-U.S. accounts to report such holdings to the Internal Revenue Service.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Closing Loopholes in Russia Sanctions Act of 2022
Latest action (Mar 11, 2022): Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: International Affairs · Origin: House · Introduced: Mar 11, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.