HR 7338 United States House · 117th Congress

To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.

Summary

Russia Cryptocurrency Transparency Act This bill requires the Department of State to notify Congress before paying out 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 also report to Congress on any cryptocurrency payments made under the rewards program, including an explanation of why a reward was made using cryptocurrency. The bill also requires the State Department to report to Congress on the most effective avenues to provide aid to Ukraine, including possible uses of cryptocurrencies or other blockchain-related technologies. (Blockchain is a digital ledger technology that allows for transactions without a trusted intermediary, such as a bank.) The Department of the Treasury must report to Congress an assessment of how digital currencies can affect the effectiveness and enforcement of U.S. sanctions relating to Russia's invasion of Ukraine.

Bill status passed 3 of 5 stages cleared

Introduction

Mar 2022

Committee Review

Sep 2022

House Passage

Sep 2022

Senate Passage

President

Introduced Mar 31, 2022 Last action Sep 21, 2022

Floor votes

How they voted

This bill passed the House. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Sep 21, 2022

Committee

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

upper

Sep 20, 2022

Introduced

The title of the measure was amended. Agreed to without objection.

lower

Sep 20, 2022

Lower · Passed

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)

lower

Sep 20, 2022

Lower · Passed

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.

lower

Sep 19, 2022

Introduced

Mr. Malinowski moved to suspend the rules and pass the bill, as amended.

lower

Apr 5, 2022

Introduced

Ordered to be Reported (Amended) by Voice Vote.

lower

Apr 5, 2022

Lower · Passed

Committee Consideration and Mark-up Session Held.

lower

Mar 31, 2022

Committee

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.

lower

Mar 31, 2022

Introduced

Introduced in House

lower

1 primary · 1 co-sponsor