Congress 117 - HR 7338 - Russia Cryptocurrency Transparency Act

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Advanced technology and technological innovations Competitiveness, trade promotion, trade deficits Conflicts and wars Congressional oversight Criminal investigation, prosecution, interrogation Currency Department of State Digital media Economic development Europe Evidence and witnesses Executive agency funding and structure Federal officials Foreign aid and international relief Foreign property Fraud offenses and financial crimes Intelligence activities, surveillance, classified information International Affairs Internet, web applications, social media Military operations and strategy Refugees, asylum, displaced persons Right of privacy Russia Sanctions Ukraine

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Summary

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.

Actions

Sep 21, 2022

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Sep 20, 2022

The title of the measure was amended. Agreed to without objection.
Sep 20, 2022

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)
Sep 20, 2022

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.
Sep 20, 2022

Pursuant to the provisions of H. Res. 1361, proceedings on H.R. 7338 are considered vacated.
Sep 19, 2022

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.
Sep 19, 2022

DEBATE - The House proceeded with forty minutes of debate on H.R. 7338.
Sep 19, 2022

Considered under suspension of the rules. (consideration: CR H7904-7906)
Sep 19, 2022

Mr. Malinowski moved to suspend the rules and pass the bill, as amended.
Apr 5, 2022

Ordered to be Reported (Amended) by Voice Vote.
Apr 5, 2022

Committee Consideration and Mark-up Session Held.
Mar 31, 2022

Introduced in House
Mar 31, 2022

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.

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