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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.
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Status:
Expired
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Additional Information
Print number: 118_HR_5050
Sponsor: Rep. Slotkin, Elissa [D-MI-7]
Process start date: 2023-07-27
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
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.

What is the impact of this bill?

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.

CATEGORIES

Courts and Law Economy