S. 2355 · 118th Congress
Crypto-Asset National Security Enhancement and Enforcement Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ReedSponsor3 cosponsors · 1 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Crypto-Asset National Security Enhancement and Enforcement Act of 2023
What it does: CRS summary · Introduced in Senate · Jul 18, 2023
Crypto-Asset National Security Enhancement and Enforcement Act of 2023
This bill applies sanctions compliance requirements and anti-money laundering requirements to decentralized finance services. Decentralized finance services are applications that facilitate peer-to-peer digital asset financial transactions using distributed ledger (i.e., blockchain) technology.
Specifically, the bill requires certain U.S. persons to comply with sanctions obligations if a violation of sanctions is committed through the use of a digital asset protocol. U.S. persons subject to these requirements are digital transaction facilitators and, in certain circumstances, digital asset protocol backers.
Further, digital asset transaction facilitators and digital asset protocol backers are subject to reporting requirements designed to prevent money laundering, including suspicious transaction reporting.
Finally, virtual currency kiosks (i.e., digital asset kiosks) must verify and record the identities of the counterparties to a transfer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Crypto-Asset National Security Enhancement and Enforcement Act of 2023
Latest action (Oct 26, 2023): Committee on Banking, Housing, and Urban Affairs. Hearings held.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 18, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.