H.R. 7338 · 117th Congress
Russia Cryptocurrency Transparency Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 117th Congress ended.
D
MeeksSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Mar 31, 2022
- House Passed Sep 20, 2022
This bill requires the Department of State to notify Congress before paying out a reward in cryptocurrency under an existing program that authorizes rewards for information leading to the arrest or conviction of parties responsible for certain criminal acts. (Current law allows such rewards to consist of money, nonmonetary items, or both.)
What it does: CRS summary · Passed House · Sep 20, 2022
Russia Cryptocurrency Transparency Act
This bill requires the Department of State to notify Congress before paying out a reward in cryptocurrency under an existing program that authorizes rewards for information leading to the arrest or conviction of parties responsible for certain criminal acts. (Current law allows such rewards to consist of money, nonmonetary items, or both.)
The State Department must also report to Congress on any cryptocurrency payments made under the rewards program, including an explanation of why a reward was made using cryptocurrency.
The bill also requires the State Department to report to Congress on the most effective avenues to provide aid to Ukraine, including possible uses of cryptocurrencies or other blockchain-related technologies. (Blockchain is a digital ledger technology that allows for transactions without a trusted intermediary, such as a bank.)
The Department of the Treasury must report to Congress an assessment of how digital currencies can affect the effectiveness and enforcement of U.S. sanctions relating to Russia's invasion of Ukraine.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.
Latest action (Sep 21, 2022): Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Policy area: International Affairs · Origin: House · Introduced: Mar 31, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Mar 31, 2022
- House Passed Sep 20, 2022
No recorded floor vote found.