These are the crypto bills in Congress right now.

Just in the past few months, a flurry of crypto-related bills has been brought before the US Congress. Each of these could have wide-ranging effects on the future of crypto, so I did a bit of research on them.

1. HR 4763: known as the “Financial Innovation and Technology for the 21st Century Act,” this bill was proposed on 7/20/2023 by Glenn Thompson, a Republican from Pennsylvania. The gist of this bill is to set the boundaries of the Securities and Exchange Committee (SEC) and the Commodity Futures Trading Commission (CFTC) in regard to digital assets. Of course, this has been sorely needed due to Gary Gensler’s SEC going off the rails with lawsuits against Ripple, Coinbase, etc., claiming that certain cryptos are securities. This bill would go a long way in providing the regulatory framework for determining the difference between a security and a commodity, finally removing the seemingly chaotic and arbitrary process currently in place. https://www.congress.gov/bill/118th-congress/house-bill/4763
2. HR 1747: the “Blockchain Regulatory Certainty Act” was proposed by Republican Representative Tom Emmer from Minnesota on 3/23/2023. This bill is relatively simple and straightforward. It states that blockchain developers or other blockchain-focused companies are exempt from the rules overseeing money transmitters and financial institutions, as long as they do not take control of customer funds. https://www.congress.gov/bill/118th-congress/house-bill/1747
3. HR 2969: called the “Financial Technology Protection Act of 2023,” this bill was introduced by Republican Representative Zachary Nunn on 4/27/2023. Its purpose is to establish an independent Financial Technology Working Group to fight money laundering and other financial crimes through digital assets. https://www.congress.gov/bill/118th-congress/house-bill/2969,
4. S 2226: this is an amendment to the National Defense Authorization Act for Fiscal Year 2024, and was introduced by Democratic Senator Jack Reed from Rhode Island. This requires the Treasury’s Office of Foreign Assets Control (OFAC) to begin examining the risks for money service businesses due to digital assets. It also establishes a Civilian Cybersecurity Reserve, which is an invitation-only group of cybersecurity experts that are willing and able to aid federal agencies in the event when needed. https://www.congress.gov/bill/118th-congress/senate-bill/2226
5. HR 4766: it’s been dubbed the “Clarity for Payment Stablecoins Act of 2023,” and it was introduced by North Carolina Representative Patrick T. McHenry on 7/20/2023. This bill’s purpose is to set the rules for who can issue stable coins, keeping reserves, proving reserves, and redeeming. In particular, this bill states that stable coin issuers need to be permitted to do so by federal regulators and be a “subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer.” https://www.congress.gov/bill/118th-congress/house-bill/4766,
6. HR 4841: the “Keep Your Coins Act of 2023” was introduced by Ohio Representative Warren Davidson on 7/25/2023. Its purpose couldn’t be simpler: to stop federal agencies from preventing the holding or use of digital currencies. https://www.congress.gov/bill/118th-congress/house-bill/4841/text

All six of these bills have passed the relevant committees and will soon be brought to the floor for a general vote. Call your representatives and tell them to support crypto.