,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #egda  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #bg1        
#bjbc,mr4 ,flood 7= himself1 ,mr4       
,torres ( ,new ,york1 ,mr4 ,hill1 & ,mr4
 ,nickel7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices  ,a ,,bill  ,to prohibit c]ta9 
,f$]al ag5cies f requir+ c]ta9          
in/itutions to include assets held 9    
cu/ody z a liability1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,uni=m ,treatm5t ( ,cu/odial ,assets  
,act4  #b4 ,acc\nt+ treatm5t ( cu/ody   
activities  7a7 ,9 g5]al ,! appropriate 
,f$]al bank+ ag5cy1 ! ,national ,cr$it  
,union ,adm9i/ration 79 ! case ( a cr$it
 union71 & ! ,securities & ,ex*ange     
,commission may n require or take       
sup]visory action t w\ld cause a        
depository in/itution1 national bank1   
,f$]al cr$it union1 ,/ate cr$it union1  
tru/ company1 or any affiliate !re(--   
7#a7 except z provid$ 9 subsection 7b71 
to include assets held 9 cu/ody or      

safekeep+1 or ! assets associat$ ) a    
cryptographic key held 9 cu/ody or      
safekeep+1 z a liability on su*         
in/itution's f9ancial /atem5t or balance
 %eet2  7#b7 to hold additional         
regulatory capital aga9/ assets 9       
cu/ody1 or safekeep+1 or ! assets       
associat$ ) a cryptographic key held 9  
cu/ody or safekeep+1 except z necess>y  
to mitigate aga9/ op]ational risks "u   
regulations ) g5]al application1 z      
det]m9$ by-- 7,a7 ! appropriate ,f$]al  
bank+ ag5cy or ,/ate bank sup]visor2    
7,b7 ! ,national ,cr$it ,union          
,adm9i/ration 79 ! case ( a cr$it       
union72 or  7,c7 a ,/ate cr$it union    
sup]visor2 or  7#c7 to recognize a      
liability = any obligations relat$ to   
activities or s]vices p]=m$ = digital   
assets t su* in/itution does n h        
b5eficial own]%ip ( if t liability w\ld 
exce$ ! exp5se recogniz$ 9 ! income     
/atem5t z a result ( ! correspond+      
obligation4  7b7 ,exception = comm+l+   
,ca% held = a ?ird p>ty by an in/itution

 describ$ 9 subsection 7a7 may be treat$
 z a liability on su* in/itution's      
f9ancial /atem5t or balance %eet if su* 
ca% is comm+l$ ) ! g5]al assets ( su*   
in/itution4  7c7 ,def9itions ,9 ?is     
section3 7#a7 ,affiliate ,! t]m         
affiliate has ! mean+ giv5 ! t]m 9      
section #b ( ! ,bank ,hold+ ,company    
,act ( #aief 7#ab ,u4,s4,c4 #ahda74     
7#b7 ,cr$it union t]ms ,! t]ms ,f$]al   
cr$it union & ,/ate cr$it union h !     
mean+ giv5 ^? t]ms1 respectively1 9     
section #aja ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageb74  7#c7 ,,fdia
 t]ms ,! t]ms appropriate ,f$]al bank+  
ag5cy1 depository in/itution1 & ,/ate   
bank sup]visor h ! mean+s giv5 ! t]ms1  
respectively1 9 section #c ( ! ,f$]al   
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac74  7#d7 ,/ate cr$it union         
sup]visor ,! t]m ,/ate cr$it union      
sup]visor means a ,/ate (ficial describ$
 9 section #ajg;,a7e7 ( ! ,f$]al ,cr$it 
,union ,act 7#ab ,u4,s4,c4 #ageg;a7e774