No Crypto in Social Security Act
Sponsored By: Senator Durbin, Richard J. [D-IL]
Introduced
Summary
Ban on crypto investments in Social Security Trust Funds. This bill would amend section 201(d) of the Social Security Act to bar the Trust Funds from holding any "digital asset" as that term is defined in the GENIUS Act. It would also prohibit "crypto-related investments" including investment funds tied to digital-asset futures or indices. The ban covers stocks or bonds of companies that substantially derive value from digital-asset holdings or that primarily earn revenue from providing crypto products or services, and any other asset whose value is tied to digital assets.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Ban crypto investments by Social Security
This bill would prohibit the Social Security Trust Funds from investing in any digital asset or crypto-related investment. Digital asset is defined by reference to section 2 of the GENIUS Act. Crypto-related investments would include funds tied to crypto futures or crypto indexes; stocks or bonds of companies that mainly get value from digital assets or mainly earn revenue from crypto services (issuance, trading, custody, settlement, and similar services); and any asset whose value is tied to digital assets. If enacted, this would lower exposure to crypto losses but would also limit potential gains if crypto performed well.
Sponsors & CoSponsors
Sponsor
Durbin, Richard J. [D-IL]
IL • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov