[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9421 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 9421

    To require certain cryptocurrency exchanges to make disclosures 
     relating to proof of reserves to the Securities and Exchange 
                  Commission, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 2, 2022

    Mr. Torres of New York introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To require certain cryptocurrency exchanges to make disclosures 
     relating to proof of reserves to the Securities and Exchange 
                  Commission, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Crypto Exchange Disclosure Act''.

SEC. 2. CRYPTOCURRENCY EXCHANGES PROOF OF RESERVES DISCLOSURES.

    A cryptocurrency exchange that holds assets on behalf of customers 
shall periodically (as determined by the Securities and Exchange 
Commission) disclose to the Securities and Exchange Commission 
information relating to proof of reserves of the exchange, including, 
with respect to the exchange at the time of the disclosure, the amount 
of assets held by the exchange compared to the liabilities of the 
exchange.
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