PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-510.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 18, 2023
Crypto-Asset National Security Enhancement and Enforcement Act of 2023
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 are subject to reporting requirements designed to prevent money laundering, including suspicious transaction reporting.
Finally, virtual currency kiosks (i.e., digital asset kiosks) must verify and record the identities of the counterparties to a transfer.
People & committees
Sen. Reed, Jack [D-RI] · D–RI
Sen. Reed, Jack [D-RI] · D–RI
Legislative record
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Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-510.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2990-2991)
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: May 27, 2026. Consult Congress.gov for the current record.
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