,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #dhac  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #bc1 #bjai,mr4
 ,g>ca ( ,ill9ois introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices1 & 9 addition to !   
,committee on ,agriculture1 = a p]iod to
 be subsequ5tly det]m9$ by ! ,speak]1 9 
ea* case = consid]ation ( su* provisions
 z fall )9 ! jurisdiction ( ! committee 
conc]n$  ,a ,,bill  ,to prohibit l>ge   
plat=m utilities f be+ a f9ancial       
in/itution or be+ affiliat$ ) a p]son t 
is a f9ancial in/itution1 & = o!r       
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,keep ,big ,te* ,out ,(    
,f9ance ,act4  #b4 ,prohibition relat$  
to l>ge plat=m utilities  7a7 ,9 g5]al  
,a l>ge plat=m utility may n be1 & may n
 be affiliat$ ) any p]son t is1 a       
f9ancial in/itution4  7b7 ,prohibition  
relat$ to cryptocurr5cies  7#a7 ,9 g5]al
 ,a l>ge plat=m utility may n e/abli%1  
ma9ta91 or op]ate a digital asset t is  
int5d$ to be widely us$ z m$ium (       

ex*ange1 unit ( acc\nt1 /ore ( value1 or
 any o!r simil> function1 z def9$ by !  
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em4  7#b7 ,def9itions ,= purposes ( 
p>agraph 7#a71 ! ,bo>d ( ,gov]nors ( !  
,f$]al ,res]ve ,sy/em %all def9e ! t]ms 
m$ium ( ex*ange1 unit ( acc\nt1 & /ore (
 value4  7c7 ,w9d-,d[n p]iod ,) respect 
to a l>ge plat=m utility-- 7#a7 if !    
l>ge plat=m utility is1 or is affiliat$ 
) a p]son t is1 a f9ancial in/itution on
 ! date ( enactm5t ( ?is ,act1          
subsection 7a7 %all n apply to su* l>ge 
plat=m utility until ! end ( ! #a-ye>   
p]iod beg9n+ on ! date ( enactm5t ( ?is 
,act2 &  7#b7 if ! l>ge plat=m utility  
ma9ta9s or op]ates a digital asset      
describ$ "u subsection 7b77#a7 on ! date
 ( enactm5t ( ?is ,act1 subsection 7b7  
%all n apply to su* l>ge plat=m utility 
until ! end ( ! #a-ye> p]iod beg9n+ on !
 date ( enactm5t ( ?is ,act4  7d7       
,p5alty ,any l>ge plat=m utility or     
f9ancial in/itution t violates          
subsection 7a7 or 7b7 %all be subject to

 a f9e ( n m ?an #a1jjj1jjj p] ea* day (
 su* violation1 9 an action br\ght by ! 
appropriate ,f$]al f9ancial regulator4  
7e7 ,rulemak+ ,! appropriate ,f$]al     
f9ancial regulators may issue rules to  
c>ry out ?is section4  7f7 ,def9itions  
,9 ?is section3  7#a7 ,affiliate ,! t]m 
affiliate has ! mean+ giv5 t t]m "u     
section #b ( ! ,bank ,hold+ ,company    
,act ( #aief4  7#b7 ,alt]native trad+   
sy/em ,! t]m alt]native trad+ sy/em has 
! mean+ giv5 t t]m "u section #bdb4cjj (
 title #ag1 ,code ( ,f$]al ,regulations4
  7#c7 ,appropriate ,f$]al f9ancial     
regulator ,! t]m appropriate ,f$]al     
f9ancial regulator means-- 7,a7 !       
appropriate ,f$]al bank+ ag5cy2  7,b7 ! 
,commodity ,futures ,trad+ ,commission1 
9 ! case ( a commodity pool op]ator1    
commodity trad+ advisor1 & a futures    
commission m]*ant2  7,c7 ! ,national    
,cr$it ,union ,adm9i/ration ,bo>d1 9 !  
case ( a cr$it union2  7,d7 !           
,securities & ,ex*ange ,commission1 9 ! 
case ( an alt]native trad+ sy/em1 a     

brok]1 a deal]1 an inve/m5t advis]1 an  
inve/m5t company1 a national securities 
ex*ange1 & a private fund2 &  7,e7 !    
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em1 9 ! case ( a f9ancial in/itution
 or a l>ge plat=m utility t does n      
o!rwise h an appropriate ,f$]al f9ancial
 regulator "u subp>agraph 7,a7 ?r\gh    
7,d74  7#d7 ,bank+ def9itions ,! t]ms   
appropriate ,f$]al bank+ ag5cy1         
depository in/itution1 & depository     
in/itution hold+ company h ! mean+ giv5 
^? t]ms1 respectively1 "u section #c ( !
 ,f$]al ,deposit ,insurance ,act4  7#e7 
,commodities def9itions ,! t]ms         
commodity pool op]ator1 commodity trad+ 
advisor1 & futures commission m]*ant h !
 mean+ giv5 ^? t]ms1 respectively1 "u   
section #a;a ( ! ,commodity ,ex*ange    
,act4  7#f7 ,cr$it union ,! t]m cr$it   
union means a ,f$]al cr$it union or a   
,/ate cr$it union1 z su* t]ms are def9$1
 respectively1 "u section #aja ( !      
,f$]al ,cr$it ,union ,act4  7#g7        
,digital asset ,! t]m digital asset     

means an asset t is issu$ & transf]r$   
us+ di/ribut$ l$g] or block*a9          
te*nology1 includ+1 s-call$ virtual     
curr5cies1 co9s1 & tok5s4  7#h7         
,f9ancial in/itution ,! t]m f9ancial    
in/itution means-- 7,a7 an alt]native   
trad+ sy/em2  7,b7 a bran* or ag5cy ( a 
=eign bank1 z def9$ 9 section #a7;b7 ( !
 ,int]national ,bank+ ,act ( #aigh2     
7,c7 a brok]2  7,d7 a commodity pool    
op]ator2  7,e7 a commodity trad+        
advisor2  7,f7 a cr$it union2  7,g7 a   
deal]2  7,h7 a depository in/itution2   
7,i7 a depository in/itution hold+      
company2  7,j7 a futures commission     
m]*ant2  7,k7 an inve/m5t advis]2  7,l7 
an inve/m5t company2  7,m7 a national   
securities ex*ange2  7,n7 an            
organization op]at+ "u section #be or   
#be;,a ( ! ,f$]al ,res]ve ,act2  7,o7 a 
private fund2  7,p7 a ,/ate-lic5s$ money
 s]vices bus9ess2 &  7,q7 any company   
engag$ 9 activities t are f9ancial 9    
nature or incid5tal to a f9ancial       
activity1 z describ$ 9 section #d ( !   

,bank ,hold+ ,company ,act ( #aief4     
7#i7 ,l>ge plat=m utility ,! t]m l>ge   
plat=m utility means a te*nology        
company-- 7,a7 ) an annual global rev5ue
 ( #be1jjj1jjj1jjj or m2 &  7,b7 t is   
pr$om9ately engag$ 9 ! bus9ess ( (f]+ to
 ! public an onl9e m>ketplace1 an       
ex*ange1 or a plat=m = connect+ ?ird    
p>ties4  7#aj7 ,money s]vices bus9ess ,!
 t]m money s]vices bus9ess has ! mean+  
giv5 t t]m "u section #ajaj4ajj ( title 
#ca1 ,code ( ,f$]al ,regulations4  7#aa7
 ,private fund ,! t]m private fund has !
 mean+ giv5 t t]m "u section #bjb7;a7 ( 
! ,inve/m5t ,advis]s ,act ( #aidj4      
7#ab7 ,securities def9itions ,! t]ms    
brok]1 deal]1 inve/m5t advis]1 inve/m5t 
company1 & national securities ex*ange h
 ! mean+ giv5 ^? t]ms1 respectively1 "u 
section #c ( ! ,securities ,ex*ange ,act
 ( #aicd4