[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5050 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 5050

To amend title 5, United States Code, to require Members of Congress to 
disclose financial interests in cryptocurrency, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 27, 2023

 Ms. Slotkin introduced the following bill; which was referred to the 
                   Committee on House Administration

_______________________________________________________________________

                                 A BILL


 
To amend title 5, United States Code, to require Members of Congress to 
disclose financial interests in cryptocurrency, 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 ``Cryptocurrency Accountability Act''.

SEC. 2. MEMBERS OF CONGRESS; DISCLOSURE OF FINANCIAL INTERESTS IN 
              CRYPTOCURRENCY.

    Section 13104 of title 5, United States Code, is amended by adding 
at the end the following:
    ``(j)(1) Any report filed under section 13103 by a Member of 
Congress shall include--
            ``(A) a brief description, the date, and category of value 
        of any purchase, sale, or exchange in cryptocurrency by the 
        Member or spouse or dependent child of the Member during the 
        preceding calendar year which exceeds $1,000; and
            ``(B) the identity and category of value (expressed as a 
        dollar amount) of any interest in cryptocurrency held during 
        the preceding calendar year by the Member or spouse or 
        dependent child of the Member.
    ``(2) Not later than 45 days after receiving notification of any 
transaction required to be reported under paragraph (1)(A), a Member of 
Congress, if required to file a report under any subsection of section 
13103, shall file a report of the transaction.
    ``(3) Any Member of Congress who fails to file or report, by the 
applicable deadline for such filing or reporting, any information that 
such individual is required to report with respect to crytpocurrency 
pursuant to paragraph (1) or (2) shall be assessed a fine, at the 
direction of and pursuant to regulations issued by the applicable 
supervising ethics office, in an amount equal to the greater of--
            ``(A) $500, or
            ``(B) an amount equal to 5 percent of the value (expressed 
        as a dollar amount) of the purchase, sale, or exchange or 
        interest (as the case may be) that the Member so failed to file 
        or report by such deadline.
    ``(4) Notwithstanding section 13106(a), the Attorney General may 
bring a civil action in any appropriate United States district court 
against any Member of Congress who knowingly and willfully falsifies or 
who knowingly and willfully fails to file or report any information 
that such Member is required to report pursuant to paragraph (1) or (2) 
of this subsection. The court in which such action is brought shall 
assess against such Member a civil penalty in an amount equal to the 
greater of--
            ``(A) $66,000, or
            ``(B) an amount equal to 5 percent of the value (expressed 
        as a dollar amount) of the purchase, sale, or exchange or 
        interest (as the case may be) that the Member so falsified or 
        failed to file or report.
    ``(5) In this subsection, the term `cryptocurrency' means any 
digital representation of value which is recorded on a 
cryptographically secured distributed ledger or any similar 
technology.''.
                                 <all>