Russia Cryptocurrency Transparency Act
USA117th CongressHR-7338| House
| Updated: 9/21/2022
Gregory W. Meeks
Democratic Representative
New York
Cosponsors (1)
Foreign Affairs Committee, Foreign Relations Committee, Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Mr. Malinowski moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H7904-7906)
DEBATE - The House proceeded with forty minutes of debate on H.R. 7338.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Pursuant to the provisions of H. Res. 1361, proceedings on H.R. 7338 are considered vacated.
Passed/agreed to in House: Pursuant to section 2 of H. Res. 1361, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1433, as amended; H.R. 4009, as amended; H.R. 4358, as amended; H.R. 6265; H.R. 6846, as amended; H.R. 7240, as amended; H.R. 7338, as amended; H.R. 8453, as amended; H.R. 8503, as amended; and H.R. 8520, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 558, as amended.
Pursuant to section 2 of H. Res. 1361, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1433, as amended; H.R. 4009, as amended; H.R. 4358, as amended; H.R. 6265; H.R. 6846, as amended; H.R. 7240, as amended; H.R. 7338, as amended; H.R. 8453, as amended; H.R. 8503, as amended; and H.R. 8520, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 558, as amended. (consideration: CR H7984-7992; text: CR H7986-7987)
The title of the measure was amended. Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
International Affairs
Advanced technology and technological innovationsCompetitiveness, trade promotion, trade deficitsConflicts and warsCongressional oversightCriminal investigation, prosecution, interrogationCurrencyDepartment of StateDigital mediaEconomic developmentEuropeEvidence and witnessesExecutive agency funding and structureFederal officialsForeign aid and international reliefForeign propertyFraud offenses and financial crimesIntelligence activities, surveillance, classified informationInternet, web applications, social mediaMilitary operations and strategyRefugees, asylum, displaced personsRight of privacyRussiaSanctionsUkraine
Russia Cryptocurrency Transparency Act
USA117th CongressHR-7338| House
| Updated: 9/21/2022
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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Mr. Malinowski moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H7904-7906)
DEBATE - The House proceeded with forty minutes of debate on H.R. 7338.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Pursuant to the provisions of H. Res. 1361, proceedings on H.R. 7338 are considered vacated.
Passed/agreed to in House: Pursuant to section 2 of H. Res. 1361, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1433, as amended; H.R. 4009, as amended; H.R. 4358, as amended; H.R. 6265; H.R. 6846, as amended; H.R. 7240, as amended; H.R. 7338, as amended; H.R. 8453, as amended; H.R. 8503, as amended; and H.R. 8520, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 558, as amended.
Pursuant to section 2 of H. Res. 1361, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1433, as amended; H.R. 4009, as amended; H.R. 4358, as amended; H.R. 6265; H.R. 6846, as amended; H.R. 7240, as amended; H.R. 7338, as amended; H.R. 8453, as amended; H.R. 8503, as amended; and H.R. 8520, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 558, as amended. (consideration: CR H7984-7992; text: CR H7986-7987)
The title of the measure was amended. Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Gregory W. Meeks
Democratic Representative
New York
Cosponsors (1)
Foreign Affairs Committee, Foreign Relations Committee, Financial Services Committee
International Affairs
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Advanced technology and technological innovationsCompetitiveness, trade promotion, trade deficitsConflicts and warsCongressional oversightCriminal investigation, prosecution, interrogationCurrencyDepartment of StateDigital mediaEconomic developmentEuropeEvidence and witnessesExecutive agency funding and structureFederal officialsForeign aid and international reliefForeign propertyFraud offenses and financial crimesIntelligence activities, surveillance, classified informationInternet, web applications, social mediaMilitary operations and strategyRefugees, asylum, displaced personsRight of privacyRussiaSanctionsUkraine