,i  #aagth ,,congress  #b;d ,session    
,h4 ,r4 #gdbi  ,,in ,,the ,,house ,,of  
,,representatives  ,april #f1 #bjbb,mr4 
,sherman 7for himself1 ,mr4 ,green of   
,texas1 ,ms4 ,dean1 ,ms4 ,adams1 ,ms4   
,bourdeaux1 ,mr4 ,lawson of ,florida1   
,mr4 ,cleaver1 ,mr4 ,costa1 ,mr4        
,doggett1 ,mr4 ,garamendi1 ,mr4 ,lieu1  
,mrs4 ,carolyn ,b4 ,maloney of ,new     
,york1 ,mr4 ,mfume1 ,mr4 ,pappas1 ,mr4  
,vargas1 and ,ms4 ,wild7 introduced the 
following bill2 which was referred to   
the ,committee on ,financial ,services1 
and in addition to the ,committee on    
,foreign ,affairs1 for a period to be   
subsequently determined by the ,speaker1
 in each case for consideration of such 
provisions as fall within the           
jurisdiction of the committee concerned 
,a ,,bill  ,to impose sanctions with    
respect to the use of cryptocurrency to 
facilitate transactions by ,russian     
persons subject to sanctions1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,russian       

,digital ,asset ,sanctions ,compliance  
,act of #bjbb4  #b4 ,definitions ,in    
this ,act3  7#a7 ,appropriate           
congressional committees and leadership 
,the term appropriate congressional     
committees and leadership means-- 7,a7  
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs1 the ,committee on  
,foreign ,relations1 and the majority   
and minority leaders of the ,senate2 and
  7,b7 the ,committee on ,financial     
,services1 the ,committee on ,foreign   
,affairs1 and the speaker1 the majority 
leader1 and the minority leader of the  
,house of ,representatives4  7#b7       
,digital assets ,the term digital assets
 means any digital representation of    
value1 financial assets and instruments1
 or claims that are used to make        
payments or investments1 or to transmit 
or exchange funds or the equivalent     
thereof1 that are issued or represented 
in digital form through the use of      
distributed ledger technology4  7#c7    
,digital asset trading platform ,the    

term digital asset trading platform     
means a person1 or group of persons1    
that operates as an exchange or other   
trading facility for the purchase1 sale1
 lending1 or borrowing of digital       
assets4  7#d7 ,digital asset transaction
 facilitator ,the term digital asset    
transaction facilitator means--  7,a7   
any person1 or group of persons1 that   
significantly and materially facilitates
 the purchase1 sale1 lending1 borrowing1
 exchange1 custody1 holding1 validation1
 or creation of digital assets on the   
account of others1 including any        
communication protocol1 decentralized   
finance technology1 smart contract1 or  
other software1 including open-source   
computer code-- 7i7 deployed through the
 use of distributed ledger or any       
similar technology2 and  7ii7 that      
provides a mechanism for multiple users 
to purchase1 sell1 lend1 borrow1 or     
trade digital assets2 and  7,b7 any     
person1 or group of persons1 that the   
,secretary of the ,treasury otherwise   

determines to be significantly and      
materially facilitating digital assets  
transactions in violation of sanctions4 
7#e7 ,foreign person ,the term foreign  
person means an individual or entity    
that is not a ,united ,states person4   
7#f7 ,united ,states person ,the term   
,united ,states person means--  7,a7 an 
individual who is a ,united ,states     
citizen or an alien lawfully admitted   
for permanent residence to the ,united  
,states2 or  7,b7 an entity organized   
under the laws of the ,united ,states or
 any jurisdiction within the ,united    
,states1 including a foreign branch of  
such an entity4  #c4 ,imposition of     
sanctions with respect to the use of    
digital assets to facilitate            
transactions by ,russian persons subject
 to sanctions  7a7 ,report required ,not
 later than #ij days after the date of  
the enactment of this ,act1 and         
periodically thereafter as necessary1   
the ,president shall submit to ,congress
 a report identifying any foreign person

 that-- 7#a7 operates a digital asset   
trading platform or is a digital asset  
transaction facilitator2 and  7#b7  7,a7
 has significantly and materially       
assisted1 sponsored1 or provided        
financial1 material1 or technological   
support for1 or goods or services to or 
in support of any person with respect to
 which sanctions have been imposed by   
the ,united ,states relating to the     
,russian ,federation1 including by      
facilitating transactions that evade    
such sanctions2 or  7,b7 is owned or    
controlled by1 or acting or purporting  
to act for or on behalf of any person   
with respect to which sanctions have    
been imposed by the ,united ,states     
relating to the ,russian ,federation4   
7b7 ,imposition of sanctions ,the       
,president may exercise all of the      
powers granted to the ,president under  
the ,international ,emergency ,economic 
,powers ,act 7#ej ,u4,s4,c4 #agja et    
seq47 to the extent necessary to block  
and prohibit all transactions in        

property and interests in property of a 
foreign person identified in a report   
submitted under subsection 7a7 if such  
property and interests in property are  
in the ,united ,states1 come within the 
,united ,states1 or are or come within  
the possession or control of a ,united  
,states person4  7c7 ,implementation2   
penalties  7#a7 ,implementation ,the    
,president may exercise all authorities 
provided under sections #bjc and #bje of
 the ,international ,emergency ,economic
 ,powers ,act 7#ej ,u4,s4,c4 #agjb and  
#agjd7 to carry out this section4  7#b7 
,penalties ,a person that violates1     
attempts to violate1 conspires to       
violate1 or causes a violation of this  
section or any regulation1 license1 or  
order issued to carry out this section  
shall be subject to the penalties set   
forth in subsections 7b7 and 7c7 of     
section #bjf of the ,international      
,emergency ,economic ,powers ,act 7#ej  
,u4,s4,c4 #agje7 to the same extent as a
 person that commits an unlawful act    

described in subsection 7a7 of that     
section4  7d7 ,national security waiver 
,the ,president may waive the imposition
 of sanctions under this section with   
respect to a person if the ,president-- 
7#a7 determines that such a waiver is in
 the national security interests of the 
,united ,states2 and  7#b7 submits to   
,congress a notification of the waiver  
and the reasons for the waiver4  7e7    
,exceptions  7#a7 ,exception for        
intelligence activities ,this section   
shall not apply with respect to         
activities subject to the reporting     
requirements under title ,v of the      
,national ,security ,act of #aidg 7#ej  
,u4,s4,c4 #cjia et seq47 or any         
authorized intelligence activities of   
the ,united ,states4  7#b7 ,exception   
relating to importation of goods  7,a7  
,in general ,the authority to block and 
prohibit all transactions in all        
property and interests in property under
 subsection 7b7 shall not include the   
authority or a requirement to impose    

sanctions on the importation of goods4  
7,b7 ,good ,in this paragraph1 the term 
good means any article1 natural or      
manmade substance1 material1 supply or  
manufactured product1 including         
inspection and test equipment1 and      
excluding technical data4  #d4          
,discretionary prohibition of           
transactions ,the ,secretary of the     
,treasury may require that no digital   
asset trading platform or digital asset 
transaction facilitator that does       
business in the ,united ,states transact
 with1 or fulfill transactions of1      
digital asset addresses that are known  
to be1 or could reasonably be known to  
be1 affiliated with persons             
headquartered or domiciled in the       
,russian ,federation if the ,secretary--
  7#a7 determines that exercising such  
authority is important to the national  
interest of the ,united ,states2 and    
7#b7 not later than #ij days after      
exercising the authority described in   
paragraph 7#a71 submits to the          

appropriate congressional committees and
 leadership a report on the basis for   
any determination under that paragraph4 
#e4 ,transaction reporting ,not later   
than #abj days after the date of        
enactment of this ,act1 the ,financial  
,crimes ,enforcement ,network shall     
require ,united ,states persons engaged 
in a transaction with a value greater   
than #aj1jjj in digital assets through  
#a or more accounts outside of the      
,united ,states to file a report        
described in section #ajaj4cej of title 
#ca1 ,code of ,federal ,regulations1    
using the form described in that        
section1 in accordance with section     
#ecad of title #ca1 ,united ,states     
,code4  #f4 ,reports  7a7 ,in general   
,not later than #abj days after the date
 of enactment of this ,act1 the         
,secretary of the ,treasury shall submit
 to the appropriate congressional       
committees and leadership a report on   
the progress of the ,department of the  
,treasury in carrying out this ,act1    

including any resources needed by the   
,department to improve implementation   
and progress in coordinating with       
governments of countries that are allies
 or partners of the ,united ,states4    
7b7 ,other reports ,not later than #abj 
days after the date of enactment of this
 ,act1 and every year thereafter1 the   
,secretary of the ,treasury shall submit
 to the appropriate congressional       
committees and leadership and make      
publicly available a report identifying 
the digital asset trading platforms that
 the ,office of ,foreign ,assets        
,control of the ,department of the      
,treasury determines to be high risk for
 sanctions evasion1 money laundering1 or
 other illicit activities4 ,any exchange
 included in the report may petition the
 ,office of ,foreign ,assets ,control   
for removal1 which shall be granted upon
 demonstrating that the exchange is     
taking steps sufficient to comply with  
applicable ,united ,states law4