Crypto-Currency Act of 2020

Hozzl · 2022-02-08T23:16:12Z

Explore the details of House Bill 6154 Crypto-Currency Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/8/2022, 11:16 PM

Congressional Summary of HR 6154

Crypto-Currency Act of 2020

This bill establishes agency oversight of certain digital assets and requires these agencies to publish (1) the exchanges trading these assets, and (2) the requirements to create or trade these assets. The bill generally defines these assets as using a decentralized digital distributed ledger (e.g., blockchain) for transactions.

The bill establishes the Commodity Futures Trading Commission as the primary regulator of cryptocommodities. The bill also establishes the Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency as the primary regulators of cryptocurrencies. Finally, the bill establishes the Securities and Exchange Commission as the primary regulator of cryptosecurities and synthetic stablecoins.

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Current Status of Bill HR 6154

Bill HR 6154 is currently in the status of Bill Introduced since March 9, 2020. Bill HR 6154 was introduced during Congress 116 and was introduced to the House on March 9, 2020. Bill HR 6154's most recent activity was Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of March 9, 2020

Bipartisan Support of Bill HR 6154

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6154

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Accounting and auditing

- Administrative law and regulatory procedures

- Bank accounts, deposits, capital

- Banking and financial institutions regulation

- Broadcasting, cable, digital technologies

- Commodities markets

- Commodity Futures Trading Commission

- Currency

- Department of the Treasury

- Government information and archives

- Licensing and registrations

- Securities

- Securities and Exchange Commission (SEC)

Alternate Title(s) of Bill HR 6154

Crypto-Currency Act of 2020

To clarify which Federal agencies regulate digital assets, to require those agencies to notify the public of any Federal licences, certifications, or registrations required to create or trade in such assets, and for other purposes.

Crypto-Currency Act of 2020