# Understanding the Cryptocurrency Accountability Act

This bill requires members of Congress to publicly disclose their cryptocurrency holdings and transactions, just like they already do with stocks, real estate, and other financial assets. Right now, Congress members have to file annual financial disclosure forms showing their investments, but cryptocurrency is often left off these reports. This bill closes that gap by making them report any crypto they buy, sell, or own if it's worth more than $1,000. So if a senator owns Bitcoin or a representative trades Ethereum, voters and ethics watchdogs would be able to see it.

The bill also adds speed to the process. If a Congress member buys or sells cryptocurrency, they have to report it within 45 days instead of waiting until their annual filing. This means the public gets more timely information about what their elected officials are investing in. The bill defines cryptocurrency broadly as any digital money recorded on a secure computer network, so it covers Bitcoin, Ethereum, and similar digital assets.

To make sure Congress members actually follow these rules, the bill includes penalties. If someone misses a deadline or fails to report a transaction, they face a fine of at least $500 or 5 percent of the transaction's value, whichever is higher. If someone intentionally lies or deliberately hides information, the Attorney General can sue them in federal court, and they could face a penalty of at least $66,000 or 5 percent of the value they hid. The goal is to ensure transparency so voters know whether their representatives have financial interests that might influence how they vote on cryptocurrency-related laws.

Cryptocurrency Accountability Act

Slotkin, Elissa

Cryptocurrency Accountability Act This bill requires Members of Congress to disclose their cryptocurrency holdings and related transactions that exceed $1,000, as well as those of their spouses and dependent children. The bill also imposes penalties for failing to make accurate and timely disclosures.