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Digital Asset Working Group: Fostering Innovation and Investor Protection

This act establishes a special working group to examine the digital asset market, such as cryptocurrencies. Its goal is to develop recommendations for clear rules, investor protection, and fraud prevention, which could impact the security of your investments and the development of new financial technologies.
Key points
Creation of a joint working group by two major US financial institutions (SEC and CFTC) to analyze the digital asset market.
The group will develop recommendations for clear regulations, transaction security, investor protection, and combating fraud and money laundering in the digital asset space.
The group will include representatives from government, tech companies, financial institutions, investor protection organizations, and small businesses, ensuring a broad perspective.
The aim is to improve the transparency and fairness of digital asset markets, potentially increasing the security of your potential investments in these assets.
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Status:
Expired
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Additional Information
Eliminate Barriers to Innovation Act of 2021
Print number: HR 1602
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2021-03-08
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Digital Asset Working Group: Fostering Innovation and Investor Protection

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 1602.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-08.

What are the main provisions?

Key points include:

  • Creation of a joint working group by two major US financial institutions (SEC and CFTC) to analyze the digital asset market.
  • The group will develop recommendations for clear regulations, transaction security, investor protection, and combating fraud and money laundering in the digital asset space.
  • The group will include representatives from government, tech companies, financial institutions, investor protection organizations, and small businesses, ensuring a broad perspective.
  • The aim is to improve the transparency and fairness of digital asset markets, potentially increasing the security of your potential investments in these assets.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Pursuant to section 6 of H. Res. 330, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 367; H.R. 370; H.R. 396; H.R. 397, as amended; H.R. 408; H.R. 490; H.R. 965, as amended; H.R. 1251, as amended; H.R. 1395; H.R. 1491; H.R. 1528; H.R. 1532; H.R. 1565; H.R. 1602; and H.R. 2523, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 124, as amended. (consideration: CR H1979-1994; text: CR H1990)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Analysis and Potential Impact of HR 1602

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy Courts and Law