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HR3849119th CongressWALLET

STABLE GENIUS Act

Sponsored By: Representative Neguse, Joe [D-CO-2]

Introduced

Summary

Ban on certain digital-asset trading by federal officials and candidates. This bill would bar specified federal officeholders and candidates from certain digital-asset financial activities during defined periods.

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  • Federal officeholders and candidates: Would be barred from specified digital-asset transactions and required to place covered assets into blind-trust arrangements and file reporting as defined by the bill.
  • Enforcement and penalties: Establishes reporting rules and sets out civil and criminal penalties along with provisions on liability and limited immunities for covered conduct.

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Bill Overview

Analyzed Economic Effects

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

Ban on crypto trades by officials

This bill would ban covered officials and candidates from certain digital-asset transactions. The ban would apply from filing as a candidate until election day, while serving in office, and for one year after leaving. Covered individuals would need to place digital assets in a qualified blind trust during those times. The trust would need ethics office approval, divest within six months, keep the official uninformed, and avoid close ties to the official. The ethics office would post the trust agreement online, and the Federal Election Commission would oversee candidate trusts.

Penalties for breaking the crypto rules

This bill would let the Attorney General sue covered individuals who break the ban. A knowing civil violation could mean up to $250,000 in fines and giving back any profit to the Treasury. A knowing criminal case could apply if losses to people in the U.S. total at least $1,000,000 or if the person benefits, even through family or business associates. Criminal penalties could include fines under title 18, up to 18 years in prison, or both. The bill would treat this conduct as unofficial, not protected by official-duty immunity.

Who and what the crypto ban covers

This bill would define who is covered and what counts as a digital asset. Covered individuals would include the President, Vice President, Members of Congress, delegates, and candidates in those elections. A digital asset would mean a digital form of value recorded on a secure distributed ledger. It would also spell out what counts as a prohibited transaction, including issuing, sponsoring, buying, selling, holding, using derivatives, or owning through mutual funds or ETFs.

Sponsors & CoSponsors

Sponsor

Neguse, Joe [D-CO-2]

CO • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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