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H.R. 389 118th Congress House

PORTFOLIO Act

Official title: To amend the Ethics in Government Act of 1978 to restrict trading and ownership of covered investments by each Federal employee, and for other purposes.

Introduced: January 17, 2023 Introduced by: David Schweikert Republican · Arizona See on congress.gov
Government Operations and Politics Advanced technology and technological innovationsCivil actions and liabilityCommodities marketsComputers and information technology
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Congressional officers and employeesCongressional oversightCurrencyDigital mediaFamily relationshipsFederal officialsFinancial services and investmentsGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionGovernment information and archivesMembers of CongressPostal servicePresidents and presidential powers, Vice PresidentsSecurities
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Jan 17, 2023
Referred to the Committee on Oversight and Accountability, and in addition to the Committees on the Judiciary, House Administration, 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.
Jan 17, 2023
Introduced in House
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 Latest action January 17, 2023

Referred to the Committee on Oversight and Accountability, and in addition to the Committees on the Judiciary, House Administration, 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.

 Plain-English summary Congressional Research Service

Preventing Opportunistic Returns on Trades and Futures by Officials, Leadership, and Individuals in Office Act or the PORTFOLIO Act

This bill generally prohibits federal employees and 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 federal employees, Members of Congress, the President, and Vice President 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.

 Related & companion bills 1
  • HR 9216 Reintroduction of 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. 389: PORTFOLIO Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-389/
MLA
"H.R. 389: PORTFOLIO Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-389/.
Bluebook (legal)
H.R. 389, 118th Cong. (2026), https://openamerica.io/bill/118-HR-389/.
Markdown link
[H.R. 389: PORTFOLIO Act](https://openamerica.io/bill/118-HR-389/)
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