No Bailout for Crypto Act
Sponsored By: Senator Richard Durbin
Introduced
Summary
Prohibits federal bailouts for crypto and related entities. This bill would bar federal financial assistance, emergency Federal Reserve liquidity facilities, and Exchange Stabilization Fund support for defined digital asset intermediaries, decentralized finance protocols, and related service providers, while preserving the Fed's authority to lend to depository institutions.
Show full summary
- Digital asset market participants: Digital asset intermediaries, digital asset service providers, distributed ledger protocols, and decentralized finance trading protocols would be explicitly excluded from federal financial assistance, emergency liquidity under section 13(3) of the Federal Reserve Act, and Exchange Stabilization Fund support.
- Regulated banks and financial service providers: Covered financial service providers cannot receive federal support for their digital asset activities, but the bill preserves the Federal Reserve's ability to lend to depository institutions under section 10B of the Federal Reserve Act.
- Scope and legal alignment: Definitions borrow terms from the GENIUS Act and reference the Bank Holding Company Act and Federal Deposit Insurance Act to harmonize interpretations. The text focuses on cutting off federal backstops rather than creating new regulatory programs.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Ban federal bailouts for crypto
This bill would bar many federal bailouts and emergency support for crypto-related firms and services. Federal agencies would be prohibited from giving financial assistance to digital asset intermediaries, digital asset service providers, distributed ledger protocols, and DeFi trading protocols to prevent their failure or bankruptcy. These covered entities would also be barred from accessing Federal Reserve emergency liquidity facilities under section 13(3). The Treasury would be prevented from using the Exchange Stabilization Fund to benefit them.
New crypto definitions and Fed carve-out
This bill would add statutory definitions for blockchain, decentralized finance trading protocols, digital asset intermediaries, and financial service providers. It would adopt the GENIUS Act meanings for digital asset, digital asset service provider, and distributed ledger protocol and tie "digital asset intermediary" to the Bank Holding Company Act definition of financial services. These definitions would take effect upon enactment and change which firms are covered by the ban on federal support. The bill would also say the Federal Reserve may still lend to depository institutions under section 10B, which would not be altered by the new prohibitions.
Sponsors & CoSponsors
Sponsor
Richard Durbin
IL • D
Cosponsors
Elizabeth Warren
MA • D
Sponsored 3/19/2026
Peter Welch
VT • D
Sponsored 3/19/2026
Bernie Sanders
VT • I
Sponsored 3/19/2026
Tina Smith
MN • D
Sponsored 3/19/2026
Mazie Hirono
HI • D
Sponsored 3/19/2026
Jeff Merkley
OR • D
Sponsored 3/20/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in