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
116th Congress (2019–2021)
Passed House (Senate next) on Jan 29, 2019
This bill passed in the House on January 29, 2019 and goes to the Senate next for consideration.
Position statements
What legislators are saying
“House Passes Rep. Rices Legislation to Combat Terrorists Use of Virtual Currencies”
—
Rep. Kathleen Rice [D-NY4]
(Sponsor)
on Jan 29, 2019
“February 1, 2019 Vicky's View from the Capitol”
—
Rep. Vicky Hartzler [R-MO4]
on Feb 1, 2019
“my votes – week of january 28”
—
Rep. Cathy McMorris Rodgers [R-WA5]
on Feb 1, 2019
History
H.R. 428 is 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.
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. June 5, 2020 <https://www.govtrack.us/congress/bills/116/hr428>
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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.
