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HR 8990 117th Congress House Government Operations and Politics

Combatting Financial Conflicts of Interest in Government Act

Introduced: September 28, 2022 Introduced by: Lofgren, Zoe Democratic · California See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 28, 2022
Introduced in House
Sep 28, 2022
Referred to the Committee on Oversight and Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, 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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 Plain-English summary Congressional Research Service

Combatting Financial Conflicts of Interest in Government Act

This bill generally prohibits senior government officials from owning or trading in synthetic assets (i.e., tokenized derivatives). It also establishes financial disclosure requirements with respect to cryptocurrency.

Specifically, the bill prohibits senior officials, Members of Congress, the President, the Vice President, certain presidential appointees, judicial officers, members of the Federal Reserve Board, and presidents or vice presidents of a Federal Reserve bank from owning or trading investments in a security, a commodity, a future, cryptocurrency, or any comparable economic interest acquired through synthetic means, such as through a derivative. Such investments must be divested through gift or donation, cashing out, or a qualified blind trust. The appropriate ethics office may grant temporary exemptions in certain situations, such as for preexisting complex financial arrangements from which investments cannot be withdrawn, and may assess fees for violations. The Department of Justice may also bring civil actions for violations.

The bill also (1) incorporates cryptocurrency and other digital assets into current financial disclosure requirements; (2) modifies the categories and timelines for financial disclosures; and (3) requires agencies, ethics offices, and the Department of Justice to regularly report on violations of this bill and other related requirements.

What's happening now September 28, 2022

Referred to the Committee on Oversight and Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, 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.

 Related & companion bills 1
  • HR 9216 Related bill PORTFOLIO Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
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APA
U.S. Congress. (2026). H.R. 8990: Combatting Financial Conflicts of Interest in Government Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-8990/
MLA
"H.R. 8990: Combatting Financial Conflicts of Interest in Government Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-8990/.
Bluebook (legal)
H.R. 8990, 117th Cong. (2026), https://openamerica.io/bill/117-HR-8990/.
Markdown link
[H.R. 8990: Combatting Financial Conflicts of Interest in Government Act](https://openamerica.io/bill/117-HR-8990/)
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