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Bills
House Bill 7338
117th Congress(2021-2022)
To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.
Active
Active
Passed House on Sep 20, 2022
Overview
Text
Introduced
Mar 31, 2022
Latest Action
Sep 21, 2022
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7338
Congress
117
Policy Area
International Affairs
International Affairs
Primary focus of measure is matters affecting foreign aid, human rights, international law and organizations; national governance; arms control; diplomacy and foreign officials; alliances and collective security. Measures concerning trade agreements, tariffs, foreign investments, and foreign loans may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Gregory Meeks
New York
Republican
Michael McCaul
Texas
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Russia Cryptocurrency Transparency Act

This bill requires the Department of State to appoint a Director of Digital Currency Security and take other actions related to digital currencies.

The director shall be a part of the State Department's Office of Economic Sanctions Policy and Implementation and shall be responsible for issues related to digital currencies and U.S. sanctions, including assisting in the development of sanctions policies that are resilient to digital currency use by malevolent actors.

The bill also requires the State Department to notify Congress before making 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 report to Congress on any cryptocurrency payments made under the rewards program, including any justification for using cryptocurrency for such rewards.

The bill also requires the State Department to report to Congress on (1) the possible uses of cryptocurrencies or other blockchain-related technologies to provide aid to Ukraine, and (2) an assessment of how digital currencies can affect the effectiveness and enforcement of U.S. sanctions relating to Russia's invasion of Ukraine. (Blockchain is a digital ledger technology that allows for transactions without a trusted intermediary, such as a bank.)

Text (3)
Referred in Senate
September 21, 2022
Engrossed in House
September 20, 2022
Introduced in House
March 31, 2022
Related Bills (1)
Sep 20, 2022
Passed House
1
Sponsorship
House Simple Resolution 1361
Providing for consideration of the bill (S. 1098) to amend the Higher Education Act of 1965 to authorize borrowers to separate joint consolidation loans; and for other purposes.
Active
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
House
Actions (13)
09/21/2022
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
09/20/2022
The title of the measure was amended. Agreed to without objection.
09/20/2022
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)
09/20/2022
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.
09/20/2022
Pursuant to the provisions of H. Res. 1361, proceedings on H.R. 7338 are considered vacated.
09/19/2022
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.
09/19/2022
DEBATE - The House proceeded with forty minutes of debate on H.R. 7338.
09/19/2022
Considered under suspension of the rules. (consideration: CR H7904-7906)
09/19/2022
Mr. Malinowski moved to suspend the rules and pass the bill, as amended.
04/05/2022
Ordered to be Reported (Amended) by Voice Vote.
04/05/2022
Committee Consideration and Mark-up Session Held.
03/31/2022
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.
03/31/2022
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:36 PM
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