H.R. 3314 — Stop Presidential Profiteering from Digital Assets Act

This section defines key terms for purposes of the Act as follows: (1) digital asset as a digital representation of value recorded on a cryptographically secured distributed ledger or similar technology (including cryptocurrencies, stablecoins, and meme coins); (2) covered individual as the President or Vice President, Members of Congress, any Senate-confirmed federal officer or official, or any immediate family member of such individuals; (3) immediate family member as a spouse, child, or other relative residing in the same household; and (4) identifiable traits as name, image, likeness, signature, slogans, or other personally distinguishing characteristics.

This section prohibits any person from issuing, promoting, marketing, or selling a digital asset that (1) uses the identifiable traits of a covered individual and (2) is reasonably likely to result in direct or indirect financial gain to that individual. The section establishes a presumption of violation for such digital assets regardless of consent or endorsement by the covered individual and specifies that voluntary participation or authorization by the covered individual is not a defense.

This section grants the Securities and Exchange Commission (SEC) exclusive authority to enforce the Act, subjects violators to a civil penalty of up to $250,000 per violation or their gross financial gain (whichever greater), and authorizes the SEC to seek injunctive relief to prevent the issuance or further distribution of prohibited digital assets.