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Explore crypto-forward policymakers in the US who align with our mission to expand economic opportunity.
Rep. Byron Donalds has 3 statement(s) about crypto.
"Leaders in the Senate pushed through a measure that stifles innovation and places burdensome regulations on cryptocurrency & digital finance. Biden’s Infrastructure bill proves to Americans that this bill has nothing to do with infrastructure. My full statement below:"
"The @SECGov overloading cryptocurrency and blockchain firms with regulatory reports to ‘gather information’ creates an unwarranted burden on private businesses. I'm proud to join @RepTomEmmer to gain insight into why the SEC is soliciting our nation's private businesses."
Rep. Byron Donalds has put out 9 crypto bills.
Financial Freedom Act of 2022
To prohibit the Secretary of Labor from constraining the range or type of investments that may be offered to participants and beneficiaries of individual retirement accounts who exercise control over the assets in such accounts.
21st Century Dollar Act
This bill requires the Department of the Treasury to establish a strategy to facilitate the position of the dollar as the primary global reserve currency.
Treasury must submit a report that includes (1) steps taken to implement this strategy, legislative recommendations, and efforts by major foreign central banks to create an official digital currency; and (2) an evaluation of the role of the renminbi (the official currency of China) in international payments and foreign exchange reserves.
National R & D Strategy for Distributed Ledger Technology Act of 2022
To authorize the development of a national strategy for the research and development of distributed ledger technologies and their applications, to authorize awards to support research on distributed ledger technologies and their applications, and to authorize an applied research project on distributed ledger technologies in commerce.
Keep Innovation in America Act
This bill expands the definition of broker, for purposes of tax information reporting, to include any person who (for consideration) stands ready in the ordinary course of a trade or business to effect sales of digital assets at the direction of their customers. It also provides for reporting requirements for digital assets (i.e., any digital representation of value that is recorded on a cryptographically secured distributed ledger).
The bill requires a study and a report on the treatment of digital assets as cash for purposes of reporting requirements for cash payments of more than $10,000.
Digital Commodity Exchange Act of 2022
This bill allows for the regulation and registration of digital commodity exchanges subject to oversight by the Commodity Futures Trading Commission. The bill establishes the conditions for the sale of digital commodities, the registration of exchanges, and sets forth other requirements.
Financial Technology Protection Act
This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities.
Specifically, the bill establishes the Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, which must research terrorist and illicit use of new financial technologies and issue an annual report.
The Department of the Treasury must establish a fund to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies.
Additionally, the bill establishes the FinTech Leadership in Innovation and Financial Intelligence Program to support the development of tools and programs to detect terrorist and illicit use of digital currencies.
To Amend the Federal Reserve Act to prohibit the Federal Reserve Banks from Offering Certain Products or Services Directly to an Individual, and for other Purposes
This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.
Virtual Currency Tax Fairness Act of 2022
This bill excludes from gross income, for income tax purposes, up to $200 of gain from the disposition of virtual currency in a personal transaction. The bill defines virtual currency as a digital representation of value that is used as a medium of exchange and is not otherwise currency.
To Prohibit Federal Agencies from Restricting the use of Convertible Virtual Currency by a Person to Purchase Goods or Services for the Person's Own Use, and for other Purposes
This bill prohibits federal agencies from restricting a person's use of convertible virtual currency for their own purposes or to conduct transactions through a self-hosted wallet.
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