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Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act

USA119th CongressS-1223| Senate 
| Updated: 4/1/2025
Tommy Tuberville

Tommy Tuberville

Republican Senator

Alabama

Cosponsors (2)
Cindy Hyde-Smith (Republican)James C. Justice (Republican)

Agriculture, Nutrition, and Forestry Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill, titled the "Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act," amends the Commodity Exchange Act to safeguard United States digital commodity markets. Its primary purpose is to prevent interference from entities associated with designated foreign adversary nations. The legislation specifically **prohibits the registration** of any digital commodity platform that is owned, in whole or in part, by a covered entity. Furthermore, the bill mandates the **revocation of registration** for any existing digital commodity platform if a covered entity subsequently acquires ownership. A "covered entity" is defined as an organization established in or with its principal place of business in countries such as China, Russia, Iran, North Korea, Cuba, or Venezuela, including their subsidiaries. The term "digital commodity" encompasses cryptocurrencies and virtual currencies, while "digital commodity platform" refers to brokers, custodians, dealers, and trading facilities for these assets.
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Timeline

Bill from Previous Congress

S 118-1870
Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act
Apr 1, 2025
Introduced in Senate
Apr 1, 2025
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
  • Bill from Previous Congress

    S 118-1870
    Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act


  • April 1, 2025
    Introduced in Senate


  • April 1, 2025
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Finance and Financial Sector

Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act

USA119th CongressS-1223| Senate 
| Updated: 4/1/2025
This bill, titled the "Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act," amends the Commodity Exchange Act to safeguard United States digital commodity markets. Its primary purpose is to prevent interference from entities associated with designated foreign adversary nations. The legislation specifically **prohibits the registration** of any digital commodity platform that is owned, in whole or in part, by a covered entity. Furthermore, the bill mandates the **revocation of registration** for any existing digital commodity platform if a covered entity subsequently acquires ownership. A "covered entity" is defined as an organization established in or with its principal place of business in countries such as China, Russia, Iran, North Korea, Cuba, or Venezuela, including their subsidiaries. The term "digital commodity" encompasses cryptocurrencies and virtual currencies, while "digital commodity platform" refers to brokers, custodians, dealers, and trading facilities for these assets.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 118-1870
Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act
Apr 1, 2025
Introduced in Senate
Apr 1, 2025
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
  • Bill from Previous Congress

    S 118-1870
    Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act


  • April 1, 2025
    Introduced in Senate


  • April 1, 2025
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Tommy Tuberville

Tommy Tuberville

Republican Senator

Alabama

Cosponsors (2)
Cindy Hyde-Smith (Republican)James C. Justice (Republican)

Agriculture, Nutrition, and Forestry Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted