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S 2355 118th Congress Senate Finance and Financial Sector Advanced technology and technological innovations Computers and information technology Currency Digital media Financial services and investments

Crypto-Asset National Security Enhancement and Enforcement Act of 2023

Introduced: July 18, 2023 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 26, 2023
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-510.
Jul 18, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2990-2991)
Jul 18, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Crypto-Asset National Security Enhancement and Enforcement Act of 2023

This bill applies sanctions compliance requirements and anti-money laundering requirements to decentralized finance services. Decentralized finance services are applications that facilitate peer-to-peer digital asset financial transactions using distributed ledger (i.e., blockchain) technology.

Specifically, the bill requires certain U.S. persons to comply with sanctions obligations if a violation of sanctions is committed through the use of a digital asset protocol. U.S. persons subject to these requirements are digital transaction facilitators and, in certain circumstances, digital asset protocol backers.

Further, digital asset transaction facilitators and digital asset protocol backers are subject to reporting requirements designed to prevent money laundering, including suspicious transaction reporting. 

Finally, virtual currency kiosks (i.e., digital asset kiosks) must verify and record the identities of the counterparties to a transfer.    

What's happening now October 26, 2023

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-510.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Rounds, Mike
South Dakota · Jul 18, 2023
 D
Warner, Mark R.
Virginia · Jul 18, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2355: Crypto-Asset National Security Enhancement and Enforcement Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-2355/
MLA
"S. 2355: Crypto-Asset National Security Enhancement and Enforcement Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-2355/.
Bluebook (legal)
S. 2355, 118th Cong. (2026), https://openamerica.io/bill/118-S-2355/.
Markdown link
[S. 2355: Crypto-Asset National Security Enhancement and Enforcement Act of 2023](https://openamerica.io/bill/118-S-2355/)
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