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Cryptocurrency Transparency: New Rules for Congress Members and Families

This new law requires members of Congress, their spouses, and dependent children to disclose cryptocurrency transactions and holdings. It aims to increase financial transparency for public officials. Citizens gain insight into potential conflicts of interest related to digital assets.
Key points
Members of Congress must report cryptocurrency purchases, sales, or exchanges over $1,000.
They must also disclose their cryptocurrency holdings, stating their value.
Failure to report or falsifying information can result in financial penalties, including significant civil fines.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5050
Sponsor: Rep. Slotkin, Elissa [D-MI-7]
Process start date: 2023-07-27
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

Cryptocurrency Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5050.

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 2023-07-27.

What are the main provisions?

Key points include:

  • Members of Congress must report cryptocurrency purchases, sales, or exchanges over $1,000.
  • They must also disclose their cryptocurrency holdings, stating their value.
  • Failure to report or falsifying information can result in financial penalties, including significant civil fines.
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. Slotkin, Elissa [D-MI-7].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Courts and Law Economy