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119-hr-10399119th CongressWALLET

Currency Options, Information, and Navigation Act

Sponsored By: Representative Scholten, Hillary J. [D-MI-3]

Introduced

Summary

Creates a government-led digital asset education program for small businesses. This bill would require the Small Business Administration to build public, actionable learning modules on digital assets that explain benefits, risks, tax issues, vendor selection, payment mechanics, and how stablecoins differ from other tokens.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

SBA digital asset training for small businesses

If enacted, the SBA would create online education and training about digital assets for small businesses. The materials would be posted on an existing SBA learning platform within 180 days after enactment. Content would cover benefits and risks, tax treatment and reporting, security and fraud prevention, how to evaluate vendors and payment gateways, and differences among asset types including stablecoins. The SBA would form an advisory working group and consult agencies like NIST, Treasury, the Federal Reserve, the SEC, and the CFTC to keep the materials accurate and practical.

No new funding for SBA program

If enacted, the bill would not authorize any new money to carry out this Act or its amendments. Agencies would have to use existing funds or get money from other sources to run the program. This limitation could reduce the SBA's ability to implement or expand the digital asset education resources.

Sponsors & CoSponsors

Sponsor

Scholten, Hillary J. [D-MI-3]

MI • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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