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Crypto Exchange Transparency: Protecting Your Digital Assets

This new bill requires cryptocurrency exchanges to disclose information about their held assets versus liabilities. This aims to increase the security of your investments and reduce the risk of losing funds if an exchange faces issues. It will provide you with better insight into the stability of platforms where you hold your digital money.
Key points
Cryptocurrency exchanges will need to regularly report on their reserves, showing how much they hold compared to what they owe customers.
This information will be submitted to the Securities and Exchange Commission (SEC), increasing oversight of the crypto market.
The goal is to protect your money by ensuring exchanges can cover their liabilities.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_9421
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2022-12-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Crypto Exchange Disclosure Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9421.

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 2022-12-02.

What are the main provisions?

Key points include:

  • Cryptocurrency exchanges will need to regularly report on their reserves, showing how much they hold compared to what they owe customers.
  • This information will be submitted to the Securities and Exchange Commission (SEC), increasing oversight of the crypto market.
  • The goal is to protect your money by ensuring exchanges can cover their liabilities.
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. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

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