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Digital Asset Regulation and Investor Protection Act

This bill aims to regulate the digital asset market, including cryptocurrencies, to enhance investor protection and ensure financial stability. It establishes clear rules for classifying and overseeing various types of digital assets, helping citizens navigate this market more safely.
Key points
Introduces definitions and classification rules for digital assets, dividing them into digital asset securities (SEC-regulated) and digital assets as commodities (CFTC-regulated).
Clarifies that digital assets and digital asset securities are not covered by federal deposit insurance (FDIC/NCUA) or investor protection (SIPC), meaning no protection in case of platform failure.
Requires issuers of fiat-based stablecoins to obtain approval from the Department of the Treasury, aiming to increase their stability and security.
Mandates digital asset service providers (e.g., exchanges) to register and comply with customer protection and custody rules, similar to traditional financial institutions.
Implements new reporting requirements for digital transactions and strengthens anti-money laundering and counter-terrorism financing measures, including prohibiting anonymizing services in digital asset transactions.
Orders several reports on topics such as digital asset taxation, ransomware use, decentralized finance (DeFi), and trading platform security, to inform future regulatory development.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_4741
Sponsor: Rep. Beyer, Donald S., Jr. [D-VA-8]
Process start date: 2021-07-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Digital Asset Market Structure and Investor Protection Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4741.

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 2021-07-28.

What are the main provisions?

Key points include:

  • Introduces definitions and classification rules for digital assets, dividing them into digital asset securities (SEC-regulated) and digital assets as commodities (CFTC-regulated).
  • Clarifies that digital assets and digital asset securities are not covered by federal deposit insurance (FDIC/NCUA) or investor protection (SIPC), meaning no protection in case of platform failure.
  • Requires issuers of fiat-based stablecoins to obtain approval from the Department of the Treasury, aiming to increase their stability and security.
  • Mandates digital asset service providers (e.g., exchanges) to register and comply with customer protection and custody rules, similar to traditional financial institutions.
  • Implements new reporting requirements for digital transactions and strengthens anti-money laundering and counter-terrorism financing measures, including prohibiting anonymizing services in digital asset transactions.
  • Orders several reports on topics such as digital asset taxation, ransomware use, decentralized finance (DeFi), and trading platform security, to inform future regulatory development.
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. Beyer, Donald S., Jr. [D-VA-8].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law