# 117-hr-7067: Closing Loopholes in Russia Sanctions Act of 2022

117-hr-7067, Closing Loopholes in Russia Sanctions Act of 2022, is a 117th Congress bill sponsored by Rep. Sherman, Brad [D-CA-32] (D-CA); status Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-7067
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-7067
- Congress: 117
- Title: Closing Loopholes in Russia Sanctions Act of 2022
- Status: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Introduced: 2022-03-11
- Sponsor: Rep. Sherman, Brad [D-CA-32] (D-CA)
- Cosponsors: 0
- Policy area: International Affairs
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Closing Loopholes in Russia Sanctions Act of 2022 This bill requires and authorizes various actions relating to digital assets, such as cryptocurrencies, and sanctions relating to Russia. Specifically, the bill (1) authorizes the President to impose sanctions on a foreign person (i.e., individual or entity) in the digital asset industry that facilitates transactions involving persons subject to U.S. sanctions relating to Russia; (2) prohibits digital asset exchanges from transacting with digital asset wallets or cryptocurrency addresses that are known to be, or could reasonably be known to be, affiliated with persons headquartered in Russia; and (3) requires U.S. taxpayers holding a certain amount of cryptocurrency in non-U.S. accounts to report such holdings to the Internal Revenue Service.

## Related bills

- 117-hr-2471: Consolidated Appropriations Act, 2022
- 117-hr-1448: PAWS for Veterans Therapy Act
- 117-hr-3537: Accelerating Access to Critical Therapies for ALS Act
- 117-hr-7791: Access to Baby Formula Act of 2022
- 117-hr-263: Big Cat Public Safety Act
- 117-hr-6899: Russia and Belarus SDR Exchange Prohibition Act of 2022

## Sources
- [117-hr-7067 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/7067)

## Related
- [117-hr-2471: Consolidated Appropriations Act, 2022](https://policyrisk.com/legislation/117-hr-2471)
- [117-hr-1448: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/117-hr-1448)
- [117-hr-3537: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/117-hr-3537)
- [117-hr-7791: Access to Baby Formula Act of 2022](https://policyrisk.com/legislation/117-hr-7791)
- [117-hr-263: Big Cat Public Safety Act](https://policyrisk.com/legislation/117-hr-263)
- [117-hr-6899: Russia and Belarus SDR Exchange Prohibition Act of 2022](https://policyrisk.com/legislation/117-hr-6899)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-7067 (as of 2025-11-18).