3.0.0 5745 2024-08-21T16:47:32Z 2024-08-21T16:47:32Z House H HR 2023-09-27 118 [Congressional Record Volume 169, Number 157 (Wednesday, September 27, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BEYER:H.R. 5745.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8The single subject of this legislation is:To require that all digital asset transactions conducted ontrading platforms that occur off the publicly viewableblockchain be reported to trade repository registered withthe Commodity Futures Trading Commission.[Page H4714]]]> hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2024-01-17T16:13:34Z Referred to 2023-09-27T13:02:00Z hswm00 Ways and Means Committee House Standing Referred to 2023-09-27T13:02:05Z hsba00 Financial Services Committee House Standing Referred to 2023-09-27T13:01:50Z Off-Chain Digital Commodity Transaction Reporting Act of 2023 118 5966 HR 2024-01-18 Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development. Related bill CRS 2024-01-17 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development. Committee 2023-09-27 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, and Ways and Means, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-09-27 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, and Ways and Means, 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. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2023-09-27 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, and Ways and Means, 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-09-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-09-27 Introduced in House IntroReferral 1000 9 Library of Congress B001292 Rep. Beyer, Donald S., Jr. [D-VA-8] Donald Beyer D VA S. 8 N Finance and Financial Sector Bank accounts, deposits, capital 2024-08-21T15:34:41Z Banking and financial institutions regulation 2024-08-21T15:28:39Z Business records 2024-08-21T15:37:51Z Computer security and identity theft 2024-08-21T15:51:00Z Computers and information technology 2024-08-21T15:30:45Z Congressional oversight 2024-08-21T16:23:34Z Corporate finance and management 2024-08-21T15:35:19Z Criminal investigation, prosecution, interrogation 2024-08-21T16:00:45Z Currency 2024-08-21T15:18:20Z Debt collection 2024-08-21T15:35:03Z Digital media 2024-08-21T15:18:12Z Financial services and investments 2024-08-21T15:27:40Z Fraud offenses and financial crimes 2024-08-21T15:42:03Z Government information and archives 2024-08-21T16:23:26Z Government studies and investigations 2024-08-21T16:23:20Z Internet, web applications, social media 2024-08-21T15:54:59Z Right of privacy 2024-08-21T16:47:32Z Securities 2024-08-21T15:48:20Z Tax administration and collection, taxpayers 2024-08-21T15:59:48Z Finance and Financial Sector 2023-10-16T15:00:37Z 00 2023-09-27 Introduced in House 2024-07-02T13:57:01Z Digital Asset Market Structure and Investor Protection Act

This bill generally addresses the regulatory treatment of digital assets and digital asset securities.

The bill grants the Commodities Futures Trading Commission authority over digital assets, which (1) are created electronically or digitally through software code; (2) are programmed with rules that govern the creation, supply, ownership, use, and transfer of the asset; (3) have a secure transaction history; and (4) are capable of being transferred through a decentralized method without an intermediate custodian.

Additionally, the bill grants the Securities and Exchange Commission authority over the regulation of digital asset securities, digital assets that provide the holder with (1) equity or debt interest in the issuer, (2) rights to certain payments from the issuer, (3) voting rights in the major corporate actions of the issuer, or (4) liquidation rights in the event of the issuer's liquidation.

Digital assets and digital asset securities are subject to the Bank Secrecy Act for anti-money laundering, reporting, and recordkeeping purposes.

The Board of Governors of the Federal Reserve System may issue digital currency. However, digital assets, digital asset securities, and fiat-based stablecoins (a digital asset pegged to the U.S. dollar or other fiat currency) are not U.S. legal tender. Digital asset fiat-based stablecoins must be registered with and approved by the Department of the Treasury.

Digital assets shall not be covered by the Federal Deposit Insurance Corporation and the National Credit Union Administration depository insurance.

The Financial Crimes Enforcement Network must issue rules regarding the use of anonymizing services and other anonymity-enhanced convertible virtual currency services.

]]> Digital Asset Market Structure and Investor Protection Act Display Title 45 Digital Asset Market Structure and Investor Protection Act 2024-07-24T15:20:16Z Short Title(s) as Introduced 101 Digital Asset Market Structure and Investor Protection Act 2024-05-24T13:36:05Z Introduced in House IH Official Title as Introduced 6 To provide for the regulation of digital assets, and for other purposes. 2024-03-18T21:29:28Z Introduced in House IH Introduced in House 2023-09-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr5745ih/xml/BILLS-118hr5745ih.xml 2024-01-17 Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.