,,ii  #aah? ,,congress  #b;d ,session   
,s4 #cfjc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,janu>y #ag1 #bjbd,mr4 
,hag]ty 7= himself & ,ms4 ,lummis7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on !     
,judici>y  ,a ,,bill  ,to e/abli% an    
in=mation-%>+ pilot program to combat ! 
illicit use ( crypto assets4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,prev5t+
 ,illicit ,f9ance ,?r\gh ,p>tn]%ip ,act 
( #bjbd4  #b4 ,in=mation-%>+ pilot      
program to combat illicit use ( crypto  
assets  7a7 ,def9itions ,9 ?is section3 
7#a7 ,cov]$ ag5cy ,! t]m cov]$ ag5cy    
means-- 7,a7 ! ,dep>tm5t ( ,ju/ice1     
includ+ ! ,f$]al ,bureau ( ,inve/igation
 & ! ,drug ,en=cem5t ,adm9i/ration2     
7,b7 ! ,f9ancial ,crimes ,en=cem5t      
,network2 &  7,c7 ! ,dep>tm5t ( ,homel& 
,security4  7#b7 ,crypto asset ,! t]m   
crypto asset means a natively electronic
 asset t-- 7,a7 conf]s economic1        
propriet>y1 or access rights or p[]s2 & 
7,b7 is record$ us+ cryptographically   

secur$ di/ribut$ l$g] te*nology1 or any 
simil> analogue4  7#c7 ,designat$       
private sector entity ,! t]m designat$  
private sector entity means a private   
sector entity designat$ "u subsection   
7c74  7#d7 ,director ,! t]m ,director   
means ! ,director ( ! ,f9ancial ,crimes 
,en=cem5t ,network4  7#e7 ,illicit      
f9ance violation ,! t]m illicit f9ance  
violation means ! illicit use ( crypto  
assets4  7#f7 ,illicit use ,! t]m       
illicit use includes fraud1 d>knet      
m>ketplace transactions1 money laund]+1 
! pur*ase & sale ( illicit goods1       
sanctions evasion1 !ft ( funds1 fund+ ( 
illegal activities1 transactions relat$ 
to *ild sexual abuse mat]ial1 & any o!r 
f9ancial transaction involv+ ! proce$s (
 specifi$ unlawful activity 7z def9$ 9  
section #aief7;c7 ( title #ah1 ,unit$   
,/ates ,code74  7#g7 ,money s]vices     
bus9ess ,! t]m money s]vices bus9ess has
 ! mean+ giv5 ! t]m 9 section #ajaj4ajj 
( title #ca1 ,code ( ,f$]al             
,regulations1 or any successor          

regulation4  7#h7 ,secret>y ,! t]m      
,secret>y means ! ,secret>y ( ,homel&   
,security4  7b7 ,e/abli%m5t ( program ,!
 ,attorney ,g5]al %all e/abli% a pilot  
program "u :i* cov]$ ag5cies & designat$
 private sector entities securely %>e   
in=mation ab\t pot5tial illicit f9ance  
violations & ?reats & em]g+ risks relat+
 to illicit f9ance violations4  7c7     
,designation ( private sector entities  
7#a7 ,requir$ designation  7,a7 ,initial
 designation ,n lat] ?an #ij days aft] !
 date ( enactm5t ( ?is ,act1 ! ,attorney
 ,g5]al1 9 consultation ) ! ,director & 
! ,secret>y1 %all designate #aj private 
sector entities t are money s]vices     
bus9esses & #aj private sector entities 
f ! crypto asset indu/ry to p>ticipate 9
 ! pilot program e/abli%$ "u subsection 
7b74  7,b7 ,biannual review ,n less     
frequ5tly ?an once e #f mon?s1 !        
,attorney ,g5]al1 9 consultation ) !    
,director & ! ,secret>y1 %all review &1 
z appropriate1 replace ! private sector 
entities designat$ "u ?is p>agraph4     

7#b7 ,optional designation ,9 addition  
to ! #bj private sector entities        
designat$ "u p>agraph 7#a71 ! ,attorney 
,g5]al1 9 consultation ) ! ,director & !
 ,secret>y1 may designate #a or m       
in=mation %>+ & analysis c5t]s to       
p>ticipate 9 ! pilot program4  7d7      
,in=mation %>+ ) private sector entities
 ,a cov]$ ag5cy t initiates an          
inve/igation into a pot5tial illicit    
f9ance violation1 or id5tifies a ?reat  
or em]g+ risk relat+ to illicit f9ance  
violations1 may %>e ) any designat$     
private sector entity su* in=mation ab\t
 ! inve/igation1 ?reat1 or em]g+ risk z 
! cov]$ ag5cy det]m9es appropriate4  7e7
 ,use ( in=mation by private sector     
entities ,in=mation receiv$ by a        
designat$ private sector entity "u ?is  
section may n be us$ = any purpose o!r  
?an id5tify+ & report+ on activities t  
may involve illicit f9ance violations or
 ?reats & em]g+ risks relat+ to illicit 
f9ance violations4  7f7 ,means ( %>+    
in=mation ,! cov]$ ag5cies & designat$  

private sector entities may %>e         
in=mation ab\t pot5tial illicit f9ance  
violations1 or ?reats & em]g+ risks     
relat+ to illicit f9ance violations1 )  
ea* o!r-- 7#a7 ?r\gh a portal e/abli%$  
by ! ,attorney ,g5]al or a simil>       
me*anism det]m9$ appropriate by !       
,attorney ,g5]al2  7#b7 ?r\gh secure    
email2 or  7#c7 at virtual mon?ly       
meet+s1 :i* %all be facilitat$ by !     
,attorney ,g5]al4  7g7 ,limitation on   
liability ,a designat$ private sector   
entity t transmits1 receives1 or %>es   
in=mation = ! purposes ( id5tify+ &     
report+ activities t may con/itute      
illicit f9ance violations1 or ?reats &  
em]g+ risks relat+ to illicit f9ance    
violations1 %all n be liable to any     
p]son "u any law or regulation ( !      
,unit$ ,/ates1 any con/itution1 law1 or 
regulation ( any ,/ate or political     
subdivision !re(1 or "u any contract or 
o!r legally en=ceable agreem5t 7includ+ 
any arbitration agreem5t71 = su*        
disclosure or = any failure to provide  

notice ( su* disclosure to ! p]son :o is
 ! subject ( su* disclosure1 or any o!r 
p]son id5tifi$ 9 ! disclosure4  7h7     
,volunt>y p>ticipation ,p>ticipation by 
a designat$ private sector entity 9 !   
pilot program e/abli%$ "u subsection    
7b71 includ+ %>+ ( in=mation reg>d+     
pot5tial illicit f9ance violations or   
?reats & em]g+ risks relat+ to illicit  
f9ance violations1 %all be volunt>y4    
7i7 ,sunset ,! pilot program e/abli%$ "u
 subsection 7b7 %all t]m9ate on ! date t
 is #e ye>s aft] ! date ( enactm5t ( ?is
 ,act4