118th Congress · SENATE BILLBILL

S. 2355 — Crypto-Asset National Security Enhancement and Enforcement Act of 2023

“A bill to clarify the applicability of sanctions and antimoney laundering compliance obligations to United States persons in the decentralized finance technology sector and virtual currency kiosk operators, and for other purposes.”

Finance and financial sector

Introduced Jul 18, 2023

Last action Oct 26, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 18, 2023

Step 2

Referred

Jul 18, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Oct 26, 2023

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill applies sanctions compliance requirements and anti-money laundering requirements to decentralized finance services. Decentralized finance services are applications that facilitate peer-to-peer digital asset financial transactions using distributed ledger (i.e., blockchain) technology. Specifically, the bill requires certain U.S. persons to comply with sanctions obligations if a violation of sanctions is committed through the use of a digital asset protocol. U.S. persons subject to these requirements are digital transaction facilitators and, in certain circumstances, digital asset protocol backers. Further, digital asset transaction facilitators and digital asset protocol backers...

Provisions · 4 sectionsIntroduced in Senate

Timeline · 3 actions

Oct 26, 2023

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Jul 18, 2023

Introduced in Senate

Jul 18, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.