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H.R. 428 (116th): Homeland Security Assessment of Terrorists’ Use of Virtual Currencies Act

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About the bill

When terrorists groups increasingly relying on Bitcoin and other similar virtual currencies, what should be done?

Context

Bitcoin is the most famous among several prominent virtual currencies, a new type of digital payment system to arise in the 2010s. These offer several features that “traditional” money doesn’t have, such as being universal and thus negating the need for exchange rates between countries.

Yet the most prominent new feature is anonymity. The technological specifics of how they maintain anonymity are complex and use a new technology called blockchain. But the short version is Bitcoin and similar cryptocurrencies combine the anonymity of cash with the digital near-immediacy of credit cards, PayPal, Venmo, and the like.

Unfortunately, that makes it a potential gold mine for hate groups, assassins, and terrorists — because previously ...

Sponsor and status

Photo of sponsor Kathleen Rice

Kathleen Rice

Sponsor. Representative for New York's 4th congressional district. Democrat.

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Last Updated: Jan 29, 2019
Length: 3 pages
Introduced
Jan 10, 2019
116th Congress (2019–2021)
Status
Died in a previous Congress

This bill was introduced in a previous session of Congress and was passed by the House on January 29, 2019 but was never passed by the Senate.

Source
Congress.gov

History

Jan 10, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

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Jan 29, 2019
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

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H.R. 428 (116th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 428. This is the one from the 116th Congress.

This bill was introduced in the 116th Congress, which met from Jan 3, 2019 to Jan 3, 2021. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 428 — 116th Congress: Homeland Security Assessment of Terrorists’ Use of Virtual Currencies Act.” www.GovTrack.us. 2019. January 28, 2021 <https://www.govtrack.us/congress/bills/116/hr428>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.