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legislation: 117-hr-7429

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-hr-7429 117 hr 7429 Russian Digital Asset Sanctions Compliance Act of 2022 Finance and Financial Sector 2022-04-06 2022-04-06 Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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. House Rep. Sherman, Brad [D-CA-30] CA D S000344 15 Russian Digital Asset Sanctions Compliance Act of 2022 This bill allows additional sanctions against Russia and creates specified reporting requirements regarding digital assets. Specifically, the President must periodically identify foreign persons who facilitate evasion of Russian sanctions using digital assets. The bill authorizes sanctions against such persons. The bill requires a U.S. taxpayer engaged in offshore digital asset transactions greater than $10,000 to file an annual Report of Foreign Bank and Financial Accounts with the Financial Crimes Enforcement Network. The bill allows the Department of the Treasury to prohibit U.S. digital asset trading platforms and transaction facilitators from transacting with Russian digital asset addresses. Additionally, Treasury must report on its progress in implementing the bill and must annually identify foreign digital asset trading platforms that are a high risk for sanctions evasion, money laundering, and other illicit activities. 2022-12-29T23:03:26Z https://www.congress.gov/bill/117th-congress/house-bill/7429

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