,,ii ,calendar ,no4 #ga #aaith ,,congress #ast ,session ,s4 #affh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #g1 #bjbe,mr4 ,merkley 7for himself1 ,mr4 ,schumer1 ,ms4 ,warren1 ,ms4 ,hirono1 ,mr4 ,van ,hollen1 ,mr4 ,reed1 ,mrs4 ,gillibrand1 ,ms4 ,cortez ,masto1 ,mr4 ,wyden1 ,mr4 ,sanders1 ,mr4 ,kim1 ,ms4 ,alsobrooks1 ,mr4 ,booker1 ,mr4 ,markey1 ,ms4 ,duckworth1 ,ms4 ,slotkin1 ,mr4 ,kelly1 ,ms4 ,blunt ,rochester1 ,mr4 ,blumenthal1 and ,mrs4 ,shaheen7 introduced the following bill2 which was read the first time ,may #h1 #bjbe,read the second time and placed on the calendar ,a ,,bill ,to amend chapter #aca of title #e1 ,united ,states ,code1 to prohibit the ,president1 ,vice ,president1 ,members of ,congress1 and individuals appointed to ,senate-confirmed positions from issuing1 sponsoring1 or endorsing certain financial instruments1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,end ,crypto ,corruption ,act of #bjbe4 #b4 ,prohibited financial transactions 7a7 ,in general ,chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 ,,iv ,prohibited financial transactions #acaea4 ,definitions ,in this subchapter3 7#a7 ,covered individual ,the term covered individual means-- 7,a7 the ,president2 7,b7 the ,vice ,president2 7,c7 a ,member of ,congress2 7,d7 an individual appointed to a ,senate-confirmed position2 or 7,e7 a special ,government employee 7as defined in section #bjb of title #ah7 associated with the ,executive ,office of the ,president4 7#b7 ,dependent child2 ,member of ,congress ,the terms dependent child and ,member of ,congress have the meanings given those terms in section #acaja4 7#c7 ,directly ,the term directly means by virtue of the ownership or beneficial interest of a covered individual1 or the spouse or dependent child of a covered individual1 in a financial interest described in paragraph 7#e77;,a74 7#d7 ,indirectly ,the term indirectly means by virtue of the financial interest of a covered individual1 or the spouse or dependent child of a covered individual1 in a business entity1 partnership interest1 company1 investment fund1 trust1 or other third party in which the covered individual1 or the spouse or dependent child of a covered individual1 has an ownership or beneficial interest4 7#e7 ,prohibited financial transaction 7,a7 ,in general ,the term prohibited financial transaction means-- 7i7 any issuance1 sponsorship1 or endorsement of a cryptocurrency1 meme coin1 token1 non-fungible token1 stablecoin1 or other digital asset that is sold for remuneration2 7ii7 any financial interest comparable to an interest described in clause 7i7 that is acquired through synthetic means1 such as the use of a derivative1 including an option1 warrant1 or other similar means2 or 7iii7 any financial interest comparable to an interest described in clause 7i7 that is acquired as part of an aggregation or compilation of such interests through a mutual fund1 exchange-traded fund1 or other similar means4 7,b7 ,exclusions ,the term prohibited financial transaction does not include the mere purchase1 sale1 holding1 or other conduct relating to financial instruments or assets routinely accessible to any member of the public4 7#f7 ,senate-confirmed position ,the term ,senate-confirmed position means a position in a department or agency of the executive branch of the ,united ,states for which appointment is required to be made by the ,president1 by and with the advice and consent of the ,senate4 #acaeb4 ,prohibition on certain transactions 7a7 ,prohibition ,except as provided in subsection 7b71 a covered individual1 or the spouse or dependent child of a covered individual1 may not engage directly or indirectly in a prohibited financial transaction-- 7#a7 during the term of service of the covered individual2 or 7#b7 during the #a-year period beginning on the date on which the service of the covered individual is terminated4 7b7 ,liability and immunity ,for purposes of any immunities to civil liability1 any conduct relating to a prohibited financial transaction under this section shall be deemed an unofficial act and beyond the scope of the official duties of the relevant covered individual4 #acaec4 ,civil penalties 7a7 ,civil action ,the ,attorney ,general may bring a civil action in any appropriate district court of the ,united ,states against any covered individual who violates section #acaeb7;a74 7b7 ,civil penalty ,any covered individual who knowingly violates section #acaeb7;a7 shall be subject to a civil monetary penalty equal to not more than #aj percent of the value of the financial interest that is the subject of the prohibited conduct1 or the amount of financial gain1 if any1 that the covered individual benefitted from relating to the prohibited conduct1 whichever is greater4 7c7 ,disgorgement ,a covered individual who is found to have violated section #acaeb7;a7 in a civil action under subsection 7a7 shall disgorge to the ,treasury of the ,united ,states any profit from the prohibited conduct that is the subject of that civil action4 4 7b7 ,clerical amendment ,the table of sections for chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 ,,subchapter ,,iv--,prohibited financial transactions #acaea4 ,definitions4 #acaeb4 ,prohibition on certain transactions4 #acaec4 ,civil penalties4 4 #c4 ,criminal penalties relating to prohibited financial transactions 7a7 ,in general ,chapter #aa of title #ah1 ,united ,states ,code1 is amended by adding at the end the following3 #bbg;,a4 ,prohibited financial transactions 7a7 ,definitions ,in this section3 7#a7 ,covered individual ,the term covered individual means-- 7,a7 the ,president2 7,b7 the ,vice ,president2 7,c7 a ,member of ,congress2 7,d7 an individual appointed to a ,senate-confirmed position2 or 7,e7 a special ,government employee 7as defined in section #bjb7 associated with the ,executive ,office of the ,president4 7#b7 ,member of ,congress ,the term ,member of ,congress has the meaning given that term in section #acaja of title #e4 7#c7 ,prohibited financial transaction 7,a7 ,in general ,the term prohibited financial transaction means-- 7i7 any issuance1 sponsorship1 or endorsement of a cryptocurrency1 meme coin1 token1 non-fungible token1 stablecoin1 or other digital asset that is sold for remuneration2 or 7ii7 any financial interest comparable to an interest described in clause 7i7 that is acquired through synthetic means1 such as the use of a derivative1 including an option1 warrant1 or other similar means4 7,b7 ,exclusions ,the term prohibited financial transaction does not include the mere purchase1 sale1 holding1 or other conduct relating to financial instruments or assets routinely accessible to any member of the public4 7#d7 ,senate-confirmed position ,the term ,senate-confirmed position means a position in a department or agency of the executive branch of the ,united ,states for which appointment is required to be made by the ,president1 by and with the advice and consent of the ,senate4 7b7 ,benefitting from prohibited financial transaction ,any covered individual who-- 7#a7 knowingly violates any provision of section #acaeb7;a7 of title #e2 and 7#b7 through such violation-- 7,a7 causes an aggregate loss of not less than #a1jjj1jjj to #a or more persons in the ,united ,states2 or 7,b7 benefits financially1 through profit1 gain1 or advantage1 directly or indirectly through any family member or business associate of the covered individual1 from the sale1 purchase1 or distribution of the financial interest described in subsection 7a77#c77;,a77i7 issued1 sponsored1 or endorsed in violation of section #acaeb7;a7 of title #e1 shall be fined under this title1 imprisoned for not more than #e years1 or both4 7c7 ,bribery ,any covered individual who-- 7#a7 knowingly violates any provision of section #acaeb7;a7 of title #e2 and 7#b7 directly or indirectly1 corruptly demands1 seeks1 receives1 accepts1 or agrees to receive or accept any thing of value personally or for any other person or entity1 in return for-- 7,a7 being influenced in the performance of any official act2 7,b7 being influenced to commit or aid in committing1 or to collude in1 or allow1 any fraud1 or make opportunity for the commission of any fraud1 on the ,united ,states2 or 7,c7 being induced to do or omit to do any act in violation of the official duty of such official or person1 shall be fined under this title or not more than #b times the monetary equivalent of the thing of value1 whichever is greater1 or imprisoned for not more than #e years1 or both1 and may be disqualified from holding any office of honor1 trust1 or profit under the ,united ,states4 7d7 ,intent ,to incur criminal liability under this section1 it shall not be required that a covered individual intended to create a financial interest described in subsection 7a77#c77;,a77i7 through the issuance1 sponsorship or endorsement of the financial interest described in subsection 7a77#c77;,a77i74 7e7 ,liability and immunity ,for purposes of any immunities to civil and criminal liability1 any conduct relating to a prohibited financial transaction under this section shall be deemed an unofficial act and beyond the scope of official duties of the relevant covered individual4 4 7b7 ,clerical amendment ,the table of sections for chapter #aa of title #ah1 ,united ,states ,code1 is amended by inserting after the item relating to section #bbg the following3 #bbg;,a4 ,prohibited financial transactions4 4 ,may #h1 #bjbe,read the second time and placed on the calendar