,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #ebbg  ,,in ,,the ,,house ,,of  
,,representatives  ,march #h1 #bjah,mr4 
,meadows 7for himself and ,mr4 ,zeldin7 
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,a ,,bill  ,to    
require a report and strategy with      
respect to virtual currencies and other 
related emerging technologies being used
 to evade sanctions1 finance terrorism1 
and launder monetary instruments1 and   
threaten ,united ,states national       
security1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,preventing ,rogue and ,foreign     
,actors ,from ,evading ,sanctions ,act4 
#b4 ,report and strategy with respect to
 virtual currencies and other related   
emerging technologies  7a7 ,in general  
,not later than #ahj days after the date
 of the enactment of this ,act1 the     
,president1 acting through the          
,secretary of ,treasury and in          
consultation with the ,attorney         

,general1 the ,secretary of ,state1 the 
,secretary of ,homeland ,security1 the  
,director of ,national ,intelligence1   
the ,director of the ,office of         
,management and ,budget1 and the        
appropriate ,federal banking agencies   
and ,federal functional regulators1     
shall--  7#a7 submit to the appropriate 
congressional committees a report that  
identifies and describes the potential  
uses of virtual currencies and other    
related emerging technologies by states1
 non-state actors1 and foreign terrorist
 organizations to evade sanctions1      
finance terrorism1 or launder monetary  
instruments1 and threaten ,united       
,states national security2 and  7#b7    
develop and submit to the appropriate   
congressional committees a strategy to  
mitigate and prevent such illicit use of
 virtual currencies and other related   
emerging technologies4  7b7 ,form2      
public availability  7#a7 ,form ,the    
report and strategy required under      
subsection 7a7 shall be submitted in    

unclassified form1 but may contain a    
classified annex4  7#b7 ,public         
availability ,the unclassified portion  
of such report and strategy shall be    
made available to the public and posted 
on the internet website of the          
,department of ,treasury--  7,a7 in     
pre-compressed1 easily downloadable     
versions that are made available in all 
appropriate formats2 and  7,b7 in       
machine-readable format1 if applicable4 
7c7 ,sources of information ,in         
preparing the report and strategy       
required under subsection 7a71 the      
,president may utilize any credible     
publication1 database1 web-based        
resource1 and any credible information  
compiled by any government agency1      
nongovernmental organization1 or other  
entity that is made available to the    
,president4  #c4 ,briefing ,not later   
than #b years after the date of the     
enactment of this ,act1 the ,secretary  
of the ,treasury shall brief the        
appropriate congressional committees on 

the implementation of the strategy      
required under section #b4  #d4         
,definitions ,in this ,act3 7#a7        
,appropriate congressional committees   
,the term appropriate congressional     
committees means--  7,a7 the ,committee 
on ,financial ,services1 the ,committee 
on the ,judiciary1 the ,permanent       
,select ,committee on ,intelligence1 and
 the ,committee on ,foreign ,affairs of 
the ,house of ,representatives2 and     
7,b7 the ,committee on ,banking1        
,housing1 and ,urban ,affairs1 the      
,committee on ,homeland ,security and   
,governmental ,affairs1 the ,committee  
on the ,judiciary1 the ,select          
,committee on ,intelligence1 and the    
,committee on ,foreign ,relations of the
 ,senate4  7#b7 ,appropriate ,federal   
banking agencies ,the term appropriate  
,federal banking agencies has the       
meaning given the term in section #c of 
the ,federal ,deposit ,insurance ,act   
7#ab ,u4,s4,c4 #ahac74  7#c7 ,virtual   
currency ,the term virtual currency     

means a currency that--  7,a7 is a      
digital representation of value that can
 be digitally traded2  7,b7 is used as a
 medium of exchange1 unit of account1 or
 store1 of value2 and  7,c7 is not used 
to be a legal tender1 whether or not    
denominated in legal tender4  7#d7      
,federal functional regulator ,the term 
,federal functional regulator has the   
meaning given that term in section #eji 
of the ,gramm-,leach-,bliley ,act 7#ae  
,u4,s4,c4 #fhji74  7#e7 ,foreign        
terrorist organization ,the term foreign
 terrorist organization means an        
organization that is designated as a    
foreign terrorist organization under    
section #bai of the ,immigration and    
,nationality ,act 7#h ,u4,s4,c4 #aahi74