Not adopted
This amendment was never taken up, and the bill finished without it. It was never voted on.
Its path through Congress
- Introduced
- Pending Consideration
- Failed
What this amendment would do
This amendment would strike section 4(i) of the bill and insert new language regarding the authority of the Board and the prevention of cryptocurrency corruption.
The amendment prohibits covered individuals, such as the President, Vice President, Members of Congress, and certain Senate-confirmed appointees, as well as their spouses and children, from directly or indirectly owning, controlling, promoting, or affiliating with any issuer of a covered cryptocurrency or an entity providing custodial or safekeeping services for such assets.
A covered cryptocurrency includes any cryptocurrency, meme coin, token, non-fungible token, or payment stablecoin sold for remuneration.
If an individual is in violation of these rules when the Act becomes law, they must come into compliance within 90 days.
Violations can be punished by up to 5 years in prison and fines of up to three times the monetary value of earnings related to the violation, provided the offense is prosecuted within 15 years of being committed.
The amendment also adds a requirement for financial disclosure reports to include a statement on whether the reporting individual, their spouse, or their child directly or indirectly owns, controls, promotes, or affiliates with a covered cryptocurrency issuer or a custodial service provider.
- 5/22/2025
- 1 Cosponsor added.
- Senate amendment submitted
Michael BennetDemocrat · Colorado