For you
Tech, crypto and online users
What our breakdowns say each bill would mean for you, from groups whose heading contains crypto
, stablecoin
, online
, website
, app
, blockchain
, tech
, intimate image
, email
, phones
or laptops
. Newest official action first.
8 bills94 points
H.R. 9615
Latest official action Sep 16, 2026 · Drafted by AI, awaiting review
If you throw away old phones, laptops or power tools
More of those batteries could be recycled here
- Old batteries are often shipped to China to be processed.
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end-of-life batteries and related scrap materials are often sent to China for processing
[6] H. Rept. 119-818 · Background - Supporters say the bill would help keep the metals inside them, like lithium and cobalt, in the country.
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much of this material is sent overseas, often to China, for processing. In our landfills, it creates a fire hazard.
[7] Congressional Record, House, September 15, 2026 (H5678-H5679) · H5679, Rep. Miller-MeeksAny additional regulatory changes to support the recycling of lithium-ion batteries and recovery of critical minerals, while maintaining protections for health and the environment.
[3] Engrossed in House (September 15, 2026) · Sec. 2(c)(2)(C)
Read the full breakdown of H.R. 9615
H.R. 3633
Latest official action Sep 15, 2026 · Drafted by AI, awaiting review by two people
If you buy, hold, or trade crypto
The platforms you use would face federal rules
- Exchanges, brokers and dealers would have to register with the CFTC, unless exempt.
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A trading facility that offers or seeks to offer a cash or spot market in at least 1 digital commodity shall register with the Commission as a digital commodity exchange.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(a)(1)(A)It shall be unlawful for any person to act as a digital commodity broker or digital commodity dealer unless the person is registered as such with the Commission.
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(a)(1)Unless exempted from registration, a person shall not act as a digital commodity broker, digital commodity dealer, or digital commodity exchange
[4] Engrossed in House (July 17, 2025) · Sec. 106(a)(1) - They would have to treat your money and crypto as yours and keep it apart from their own.
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Each digital commodity broker and digital commodity dealer shall treat and deal with all money, assets, and property that is received by the digital commodity broker or digital commodity dealer, or accrues to a customer as the result of trading in digital commodities, as belonging to the customer.
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(j)(2)(A)shall not commingle any such money, assets, or property with the funds of the digital commodity broker or digital commodity dealer
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(j)(2)(B)(i) - They would have to keep your crypto with a qualified digital asset custodian.
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A digital commodity exchange shall hold in a qualified digital asset custodian each unit of a digital asset that is
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(h)the property of a customer of the digital commodity exchange
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(h)(1)Each digital commodity broker and digital commodity dealer shall hold in a qualified digital asset custodian each unit of a digital asset that is
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(j)(1)(B) - If an exchange, broker, or dealer goes bankrupt, the assets it holds for you count as customer property under bankruptcy law.
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shall be considered customer property for purposes of section 761 of title 11, United States Code.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(4)(A)All money, assets, or property described in paragraph (2) shall be considered customer property for purposes of section 761 of title 11
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(j)(4)(A) - A platform could use your crypto to help run a blockchain, such as by checking transactions, only if you agree in writing and it follows CFTC rules.
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the term blockchain service means any activity relating to validating transactions on a blockchain system, providing security for a blockchain system, or other similar activity
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(6)(D)the customer expressly permits the use, in writing to the digital commodity exchange
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(6)(A)(i)the digital commodity exchange complies with subparagraph (B).
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(6)(A)(ii)the customer expressly permits the use, in writing to the digital commodity broker or digital commodity dealer
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(j)(6)(A)(i) - It could not make you agree as a condition of doing business.
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A digital commodity exchange may not require a customer to provide the permission referred to in subparagraph (A) as a condition of doing business on the exchange.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(6)(B)(ii) - Crypto taken out of the separate customer pool because you allowed that use would not count as customer property in a bankruptcy.
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Assets removed from segregation due to a customer election under paragraph (6) shall not be considered customer property
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(d)(4)(D) - CFTC rules would make brokers and dealers tell you the main risks of a token and of a trade.
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The Commission shall, by rule, prescribe business conduct requirements which
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(g)(2)require disclosure by a registered digital commodity broker and registered digital commodity dealer to any counterparty to the transaction (other than an eligible contract participant) of
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(g)(2)(A)information about the material risks and characteristics of the digital commodity
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(g)(2)(A)(i)information about the material risks and characteristics of the transaction
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(g)(2)(A)(ii) - This does not apply to large investors the law calls eligible contract participants.
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require disclosure by a registered digital commodity broker and registered digital commodity dealer to any counterparty to the transaction (other than an eligible contract participant) of
[4] Engrossed in House (July 17, 2025) · Sec. 406 → inserted 4u(g)(2)(A) - An exchange could list a token only if it reasonably finds that key facts about it are correct, current, and public. These include its code, how it works, and its trading volume.
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permit trading in a digital commodity only if the digital commodity exchange reasonably determines that the information required by clause (ii) is correct, current, and available to the public
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(c)(3)(B)(i)(I)The source code for any blockchain system to which the digital commodity relates.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(c)(3)(B)(ii)(I)A narrative description of the purpose of any blockchain system to which the digital commodity relates and the operation of any such blockchain system
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(c)(3)(B)(ii)(III)The trading volume and volatility of the digital commodity on the exchange.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(c)(3)(B)(ii)(IV) - Starting 30 days after the bill becomes law, firms not yet registered would have to tell you they are not registered with or regulated by the CFTC.
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Beginning 30 days after the date of the enactment of this Act, any person acting as a digital commodity exchange, digital commodity broker, or digital commodity dealer shall disclose to the customers of the person so acting
[4] Engrossed in House (July 17, 2025) · Sec. 106(d)(1)that the person is not registered with or regulated by the Commodity Futures Trading Commission.
[4] Engrossed in House (July 17, 2025) · Sec. 106(d)(1)Paragraph (1) of this subsection shall not apply to any person who registers pursuant to subsection (a).
[4] Engrossed in House (July 17, 2025) · Sec. 106(d)(2)
If you keep your own crypto
You keep the right to your own wallet
- As a U.S. individual, you would keep the right to hold crypto in your own hardware or software wallet for your own lawful use.
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A United States individual shall retain the right to
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(1)maintain a hardware wallet or software wallet for the purpose of facilitating the individual’s own lawful custody of digital assets
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(1)(A) - You could also use your wallet to trade directly with another person or business for your own lawful purposes.
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engage in direct, peer-to-peer transactions in digital assets with another individual or entity for the individual
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(1)(B) - That is only if the other side is not a financial institution and the deal does not involve property blocked by U.S. sanctions.
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such other individual or entity is not a financial institution (as defined in section 5312 of title 31, United States Code)
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(1)(B)(i)the transactions do not involve any property or interests in property that are blocked pursuant to, or are otherwise prohibited by, United States sanctions.
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(1)(B)(ii) - This right covers personal use only. It does not cover people who hold crypto for others.
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applies solely to personal use by individuals; and
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(2)(A)does not apply to individuals acting in a custodial or fiduciary capacity for others.
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(2)(B) - Agencies would keep their power to enforce money-laundering and sanctions laws.
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Nothing in this subsection shall be construed to limit the authority of the Secretary of the Treasury, the Securities and Exchange Commission, the Commodity Futures Trading Commission
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(3)any other law relating to illicit finance, money laundering, terrorism financing, or United States sanctions.
[4] Engrossed in House (July 17, 2025) · Sec. 105(c)(3)(B)
If you run a crypto exchange, broker, or dealer
You would register with the CFTC
- The CFTC would have 180 days after the bill becomes law to set up a fast way to register.
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Within 180 days after the date of the enactment of this Act, the Commodity Futures Trading Commission shall adopt, by rule, regulation, or order, a process for expedited registration
[4] Engrossed in House (July 17, 2025) · Sec. 106(a)(2) - Once that process has been in place for 90 days, you could not operate without registering, unless you are exempt.
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after the end of the 90-day period beginning on the date the process described in paragraph (2) is adopted by the Commodity Futures Trading Commission
[4] Engrossed in House (July 17, 2025) · Sec. 106(a)(1)Unless exempted from registration, a person shall not act as a digital commodity broker, digital commodity dealer, or digital commodity exchange
[4] Engrossed in House (July 17, 2025) · Sec. 106(a)(1) - Firms registered this way would be in provisional status until 270 days after the CFTC's final rules take effect. They would pay CFTC fees.
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A person in provisional status shall pay all fees and penalties required under section 410.
[4] Engrossed in House (July 17, 2025) · Sec. 106(b)(2)A person who is registered in accordance with subsection (a) of this section shall be in provisional status until
[4] Engrossed in House (July 17, 2025) · Sec. 106(b)(1)in the case of a digital commodity broker or dealer, 270 days after the final effective date of the rulemakings required under section 4u of the Commodity Exchange Act
[4] Engrossed in House (July 17, 2025) · Sec. 106(b)(1)(A) - An exchange could list a token by certifying to the CFTC that it meets the law.
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an eligible entity shall submit a written certification to the Commission that the digital commodity meets the requirements of this Act
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(1) - The listing takes effect unless the CFTC finds it breaks the law or the CFTC's rules.
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The written certification described in paragraph (1) shall become effective unless the Commission finds that the listing of the digital commodity is inconsistent with the requirements of this Act
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(4)(A) - For a new token, that happens after 20 business days. For a token already certified, it takes 1 business day. CFTC rules can make these times shorter.
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20 business days after the date the Commission receives the certification (or such shorter period as determined by the Commission by rule or regulation), in the case of a digital commodity that has not been certified under this section
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(5)(A)(i)1 business day after the date the Commission receives the certification (or such shorter period as determined by the Commission by rule or regulation) for any digital commodity that has been certified under this section.
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(5)(A)(ii) - The CFTC could extend its review twice, by 30 business days each time.
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once, for 30 business days, through written notice to the eligible entity by the Commission; and
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(5)(B)(i)once, for an additional 30 business days
[4] Engrossed in House (July 17, 2025) · Sec. 403(4) → inserted 5c(d)(5)(B)(ii) - An exchange and its affiliates could not trade for their own account on the exchange. There are exceptions, such as trades for customers or to manage risk. They apply only if the trade is not just for the exchange's profit.
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A digital commodity exchange or any affiliate of such an exchange shall not trade on or subject to the rules of the digital commodity exchange for its own account.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(b)(2)(A)A transaction for, or entered into at the direction of, or for the benefit of, an unaffiliated customer.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(b)(2)(B)(i)A transaction to manage the credit, market, and liquidity risks associated with the digital commodity business of the exchange.
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(b)(2)(B)(ii)a digital commodity exchange may engage in trading on the exchange so long as the trading is not solely for the purpose of the profit of the exchange
[4] Engrossed in House (July 17, 2025) · Sec. 404 → inserted 5i(b)(2)(B) - You would need programs to stop money laundering, check who your customers are, and report suspicious activity.
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establish and maintain an anti-money laundering and countering the financing of terrorism program
[4] Engrossed in House (July 17, 2025) · Sec. 110(b)(1)(A)maintain an effective customer identification program to identify and verify account holders and carry out appropriate customer due diligence.
[4] Engrossed in House (July 17, 2025) · Sec. 110(b)(1)(D)monitor and report suspicious activity, which may include use of appropriate distributed ledger analytics
[4] Engrossed in House (July 17, 2025) · Sec. 110(b)(1)(C) - Brokers and dealers already registered with the SEC could also register with the CFTC.
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A registered broker or registered dealer shall be permitted to maintain a registration with the Commodity Futures Trading Commission as a digital commodity broker or digital commodity dealer.
[4] Engrossed in House (July 17, 2025) · Sec. 307 → inserted 15(p)(1)
If you write crypto software or run blockchain equipment
Writing and sharing code would not, by itself, require registration
- Some work would not, by itself, put you under the Securities Exchange Act or the Commodity Exchange Act.
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a person shall not be subject to this Act and the regulations promulgated under this Act based on the person directly or indirectly engaging in any of the following activities
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)a person shall not be subject to this Act and the regulations promulgated under this Act based on the person directly or indirectly engaging in any of the following activities, whether singly or in combination, in relation to the operation of a blockchain system or in relation to decentralized finance trading protocol
[4] Engrossed in House (July 17, 2025) · Sec. 409 → inserted 4v(a) - That includes writing or publishing blockchain software, running a node, and making self-custody wallet tools.
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Developing, publishing, constituting, administering, maintaining, or otherwise distributing a blockchain system or a decentralized finance trading protocol.
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(4)Providing computational work, operating a node or oracle service
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(2)facilitating an individual user
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(6) - It also covers checking transactions, offering a tool to read blockchain data, and running or joining a pool of tokens used for trades on a DeFi system. DeFi means decentralized finance.
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Compiling network transactions or relaying, searching, sequencing, validating, or acting in a similar capacity.
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(1)Providing a user-interface that enables a user to read and access data about a blockchain system.
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(3)operating or participating in a liquidity pool, for the purpose of executing a spot contract for the purchase or sale of a digital commodity in relation to a decentralized finance trading protocol
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(a)(5) - A DeFi trading system counts only if it runs on fixed rules in its code and no one else holds users' assets during a trade.
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in accordance with an automated rule or algorithm that is predetermined and non-discretionary; and
[4] Engrossed in House (July 17, 2025) · Sec. 103(a)(4) → inserted 1a(16)(E)(i)(I)without reliance on any other person to maintain control of the digital assets of the user during any part of the financial transaction.
[4] Engrossed in House (July 17, 2025) · Sec. 103(a)(4) → inserted 1a(16)(E)(i)(II) - No person or group may be able to control it or make major changes to it.
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a person or group of persons under common control or acting pursuant to an agreement to act in concert has the authority, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise, to control or materially alter the functionality
[4] Engrossed in House (July 17, 2025) · Sec. 103(a)(4) → inserted 1a(16)(E)(ii)(I)(aa) - The SEC and CFTC would keep their power to go after fraud and manipulation, and the CFTC its power over false reporting.
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Subsection (a) shall not apply to the anti-fraud and anti-manipulation authorities of the Commission.
[4] Engrossed in House (July 17, 2025) · Sec. 309 → inserted 15H(b)Subsection (a) shall not be interpreted to apply to the anti-fraud, anti-manipulation, or false reporting enforcement authorities of the Commission.
[4] Engrossed in House (July 17, 2025) · Sec. 409 → inserted 4v(b) - A developer who cannot control users' crypto would not count as a money transmitter just for publishing software or wallet tools.
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a non-controlling blockchain developer or provider of a blockchain service shall not be treated as a money transmitter or as engaged in money transmitting
[4] Engrossed in House (July 17, 2025) · Sec. 109(a)solely on the basis of
[4] Engrossed in House (July 17, 2025) · Sec. 109(a)creating or publishing software to facilitate the creation of, or provision of maintenance services to, a blockchain or blockchain service
[4] Engrossed in House (July 17, 2025) · Sec. 109(a)(1)providing hardware or software to facilitate a customer
[4] Engrossed in House (July 17, 2025) · Sec. 109(a)(2)does not have the legal right or the unilateral and independent ability to control, initiate upon demand, or effectuate transactions involving digital assets that users are entitled to
[4] Engrossed in House (July 17, 2025) · Sec. 109(d)(3)
If you start a crypto project
A new way to raise money, with limits and reports
- A new exemption would let a project sell tokens without full SEC registration.
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the offer or sale of an investment contract involving units of a digital commodity by its digital commodity issuer
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8) - It could raise no more than $50 million in 12 months, adjusted for inflation.
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during the 12-month period preceding the date of such offering, including the amount received in such offering, is not more than $50,000,000 (as such amount is annually adjusted by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(B) - After a sale, no buyer could own more than 10 percent of the tokens.
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after the completion of the transaction, a purchaser does not own more than 10 percent of the total amount of the outstanding units of the digital commodity
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(C) - Some projects could not use it. These include projects not set up under the laws of a U.S. state, territory, or D.C., and investment companies.
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the transaction does not involve the offer or sale of an investment contract involving units of a digital commodity by its digital commodity issuer that
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)is not organized under the laws of a State, a territory of the United States, or the District of Columbia;
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)(i)is an investment company
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)(iii) - Early-stage companies with no specific business plan, and issuers barred under SEC rules, could not use it either.
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the transaction does not involve the offer or sale of an investment contract involving units of a digital commodity by its digital commodity issuer that
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)has no specific business plan or purpose; or
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)(ii)(I)is disqualified pursuant to section 230.262 of title 17, Code of Federal Regulations; and
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)(vi)is a development stage company that either
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(D)(ii) - The project would file an offering statement with the SEC. While its blockchain is not yet certified as mature, it would also file reports every 6 months.
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shall file with the Commission an offering statement and any related documents
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(2) → inserted 4B(b)(1)Every 6 months, a report containing
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(2) → inserted 4B(b)(3)(A)the issuer of a digital commodity related to a blockchain system that is not yet certified as a mature blockchain system
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(2) → inserted 4B(b)(3) - Its blockchain must already be certified as mature, or the project must plan for it to become mature.
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is certified as a mature blockchain system under section 42 of the Securities Exchange Act of 1934 or the issuer intends for the blockchain system to which the digital commodity relates to be a mature blockchain system by the later of
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(A) - The deadline is four years after its first exempt sale or four years after the exemption takes effect, whichever is later.
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is certified as a mature blockchain system under section 42 of the Securities Exchange Act of 1934 or the issuer intends for the blockchain system to which the digital commodity relates to be a mature blockchain system by the later of
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(A)the date that is four years after the first sale of the investment contract involving a unit of such digital commodity in reliance on the exemption provided under this paragraph, subject to any extensions as may be granted by the Commission
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(A)(i)the date that is four years after the effective date of this paragraph
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(A)(ii) - The SEC could extend the deadline tied to the first sale.
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the date that is four years after the first sale of the investment contract involving a unit of such digital commodity in reliance on the exemption provided under this paragraph, subject to any extensions as may be granted by the Commission
[4] Engrossed in House (July 17, 2025) · Sec. 202(a)(1) → inserted 4(a)(8)(A)(i) - A blockchain is mature when no person or group under common control controls it.
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means a blockchain system, together with its related digital commodity, that is not controlled by any person or group of persons under common control
[4] Engrossed in House (July 17, 2025) · Sec. 101 → inserted 2(a)(31)
If you use stablecoins
Stablecoins would not be treated as digital commodities
- Stablecoins from issuers approved under the GENIUS Act would not count as digital commodities or securities.
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The term permitted payment stablecoin means a payment stablecoin (as defined in section 2 of the GENIUS Act) issued by a permitted payment stablecoin issuer.
[4] Engrossed in House (July 17, 2025) · Sec. 101 → inserted 2(a)(32)A digital asset that is a permitted payment stablecoin.
[4] Engrossed in House (July 17, 2025) · Sec. 103(a)(4) → inserted 1a(16)(F)(iii)(III)The term does not include a digital commodity or permitted payment stablecoin.
[4] Engrossed in House (July 17, 2025) · Sec. 301(a) - SEC and CFTC platforms could trade them.
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Permitted payment stablecoins may be brokered, traded, or custodied by a broker or dealer or through an alternative trading system or national securities exchange.
[4] Engrossed in House (July 17, 2025) · Sec. 302(b) → inserted 6A(a)the Commission shall have jurisdiction over a cash or spot agreement, contract, or transaction in a permitted payment stablecoin
[4] Engrossed in House (July 17, 2025) · Sec. 401(d) → inserted 2(c)(2)(G)(i) - But the CFTC could not make rules about how stablecoin issuers run.
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the Commission shall not make a rule or regulation, impose a requirement or obligation on a registered entity or other entity registered with the Commission, or impose a requirement or obligation on a permitted payment stablecoin issuer, regarding the operation of a permitted payment stablecoin issuer or a permitted payment stablecoin.
[4] Engrossed in House (July 17, 2025) · Sec. 401(d) → inserted 2(c)(2)(G)(iii) - If your brokerage fails, a stablecoin would not count as cash under the law that protects brokerage customers.
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A permitted payment stablecoin, as defined in section 2(a) of the Securities Act of 1933, shall not qualify as cash and a claim for a permitted payment stablecoin shall not qualify as a claim for cash.
[4] Engrossed in House (July 17, 2025) · Sec. 301(e)(2) → inserted SIPA 16(15)
Read the full breakdown of H.R. 3633
S. 2677
Latest official action Aug 10, 2026 · Drafted by AI, awaiting review
If you shop online
More data could be used to catch fake goods at the border
- Customs could pass along data from online stores and shippers to help spot fakes.
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may provide to the person nonpublic information about the merchandise that was generated by an online marketplace or other similar market platform, express consignment operator, freight forwarder, or any other entity that plays a role in the sale or importation of merchandise
[2] Engrossed in Senate (August 7, 2026) · Sec. 1(1)(D) → inserted (3)that has been provided to, shared with, or obtained by U.S. Customs and Border Protection
[2] Engrossed in Senate (August 7, 2026) · Sec. 1(1)(D) → inserted (3) - The sponsors say fake goods can put people's safety at risk.
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Counterfeit products brought over our borders hurt American small businesses and can put people's safety at risk,
[6] Senate Judiciary Committee press release: Senate Unanimously Passes Grassley-Hassan Bill to Combat Counterfeit Imports (Aug. 10, 2026) · Aug. 10, 2026, Sen. Hassan
Read the full breakdown of S. 2677
S. 4465
Latest official action Apr 30, 2026 · Drafted by AI, awaiting review by two people
If you call, text, or email people in other countries
The rules on who could be targeted stayed the same
- Section 702, which this law left as it was, barred the government from intentionally targeting anyone known at the time to be in the United States.
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may not intentionally target any person known at the time of acquisition to be located in the United States
[9] 50 U.S.C. 1881a (section 702 of FISA), U.S. Code, 2024 edition · (b)(1) - It also barred intentionally targeting someone abroad if the purpose was to target a particular, known person believed to be in the United States.
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may not intentionally target a person reasonably believed to be located outside the United States if the purpose of such acquisition is to target a particular, known person reasonably believed to be in the United States
[9] 50 U.S.C. 1881a (section 702 of FISA), U.S. Code, 2024 edition · (b)(2) - If you are a U.S. person, information about you could still be picked up along the way, and later searched in some cases.
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Information about U.S. persons may incidentally be acquired by this type of surveillance and subsequently queried (searched) under certain circumstances.
[1] Official bill status record for S. 4465 · CRS summary - This law kept those rules as they were. It only moved the date these powers were set to end to June 12, 2026.
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in paragraph (1) (50 U.S.C. 1881 note), by striking April 30, 2026 and inserting June 12, 2026
[4] S. 4465 as enrolled and signed into law · Sec. 1(a)(1)This act extends the authorities of Title VII of the Foreign Intelligence Surveillance Act (FISA) until June 12, 2026.
[1] Official bill status record for S. 4465 · CRS summary (Public Law, April 30, 2026)
Read the full breakdown of S. 4465
S. 3971
Latest official action Apr 13, 2026 · Drafted by AI, awaiting review
If you run a small research or tech company
The grants are back, with a cap on how many proposals you can send
- Agencies can make new awards again, until September 30, 2031.
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in subsection (m), by striking September 30, 2025 and inserting September 30, 2031
[3] Enrolled Bill · Sec. 9(a)(1) - Each agency sets its own limit on proposals per company. It can count by year, by request for proposals, or by topic.
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set equally for all small business concerns a limit on the maximum number of proposals that a small business concern may submit
[3] Enrolled Bill · Sec. 4 → inserted (aaa)(1)A limit for any small business concern on a fiscal year basis.
[3] Enrolled Bill · Sec. 4 → inserted (aaa)(1)(A)A limit for any small business concern on a solicitation basis.
[3] Enrolled Bill · Sec. 4 → inserted (aaa)(1)(B)A limit for any small business concern on a topic basis.
[3] Enrolled Bill · Sec. 4 → inserted (aaa)(1)(C) - The health department, which runs NIH, now takes at most nine new applications from one company each year.
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HHS will accept a maximum of nine new and resubmission Phase I, Fast-track, and Direct to Phase II applications
[8] NIH/HHS notice NOT-OD-26-090: annual SBIR and STTR application limit · Policy - You can spend up to $6,500 per project in a first-round award on business help, and up to $50,000 in a second-round award.
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to use not more than $6,500 per project
[3] Enrolled Bill · Sec. 7(1)(C)(i) → inserted (A)to utilize not more than $50,000 per project
[3] Enrolled Bill · Sec. 7(1)(C)(i) → inserted (B) - You may now use that help money to hire or train your own staff.
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use funding provided under this section to hire new staff, augment staff, or direct staff to conduct or participate in training activities
[3] Enrolled Bill · Sec. 7(1)(B)(iv) → inserted (B)
Read the full breakdown of S. 3971
H.R. 2384
Latest official action Jul 22, 2025 · Drafted by AI, awaiting review
If you use crypto or a payment app
A study group, not new rules for you
- The group can only research and propose ideas. It cannot write rules on its own.
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conduct research on terrorist and illicit use of digital assets and other related emerging technologies
[3] Engrossed in House (July 21, 2025) · Sec. 2(b)(1)develop legislative and regulatory proposals to improve anti-money laundering, counter-terrorist, and other counter-illicit financing efforts
[3] Engrossed in House (July 21, 2025) · Sec. 2(b)(2) - A privacy or civil liberties group must have a seat at the table.
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At least five individuals appointed by the Under Secretary for Terrorism and Financial Crimes to represent the following:
[3] Engrossed in House (July 21, 2025) · Sec. 2(a)(3)Institutions or organizations focused on individual privacy and civil liberties.
[3] Engrossed in House (July 21, 2025) · Sec. 2(a)(3)(E)
Read the full breakdown of H.R. 2384
S. 1582
Latest official action Jul 18, 2025 · Drafted by AI, awaiting review by two people
If you buy, hold, or pay with stablecoins
Approved coins must be fully backed and open about it
- Each coin must be backed at least 1 to 1 by cash, bank deposits, short-term Treasury bills, or similar assets.
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on an at least 1 to 1 basis, with reserves comprising
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(A)United States coins and currency (including Federal Reserve notes)
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(A)(i)funds held as demand deposits
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(A)(ii)with a remaining maturity of 93 days or less
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(A)(iii)(I)any other similarly liquid Federal Government-issued asset
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(A)(vii) - The issuer must post what its reserves are made of on its website every month.
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publish the monthly composition of the issuer's reserves on the website of the issuer
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(C) - An accounting firm must examine that monthly report, and the issuer's chief executive and chief financial officers must certify it.
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have the information disclosed in the previous month-end report required under paragraph (1)(D) examined by a registered public accounting firm
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(3)(A)the Chief Executive Officer and Chief Financial Officer of a permitted payment stablecoin issuer shall submit a certification as to the accuracy of the monthly report
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(3)(B) - Knowingly certifying a false report is a crime.
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Any person who submits a certification required under subparagraph (B) knowing that such certification is false shall be subject to the same criminal penalties
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(3)(C) - It must post its rules for cashing out coins and list all fees in plain language.
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publicly disclose the issuer's redemption policy
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(B)publicly, clearly, and conspicuously disclose in plain language all fees associated with purchasing or redeeming the payment stablecoins
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(B)(ii) - Fees can change only after at least 7 days' notice.
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such fees can only be changed upon not less than 7 days' prior notice to consumers
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(1)(B)(ii) - Issuers may not pay you interest or yield just for holding or using the coin.
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No permitted payment stablecoin issuer or foreign payment stablecoin issuer shall pay the holder of any payment stablecoin any form of interest or yield (whether in cash, tokens, or other consideration) solely in connection with the holding, use, or retention of such payment stablecoin.
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(11)
If you use a crypto exchange or app
Starting July 18, 2028, platforms may sell only approved coins, with some exceptions
- Starting July 18, 2028, three years after the law was signed, platforms may not sell you coins from unapproved issuers.
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beginning on the date that is 3 years after the date of enactment of this Act, it shall be unlawful for a digital asset service provider to offer or sell a payment stablecoin to a person in the United States, unless the payment stablecoin is issued by a permitted payment stablecoin issuer
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(b)(1)beginning three years after the enactment of the GENIUS Act (July 18, 2028)
[38] Treasury advance notice of proposed rulemaking, GENIUS Act Implementation, Federal Register, September 19, 2025 (90 FR 45159) · Section 3(b) question - Coins from a foreign issuer can still be sold if it meets set terms. Among them, it must register with the Office of the Comptroller of the Currency (OCC), and Treasury must find its home country's rules comparable.
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The prohibitions under section 3 shall not apply to a foreign payment stablecoin issuer if all of the following apply
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 18(a)that the Secretary of the Treasury determines, pursuant to subsection (b), is comparable to the regulatory and supervisory regime established under this Act
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 18(a)(1)The foreign payment stablecoin issuer is registered with the Comptroller pursuant to subsection (c).
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 18(a)(2) - Treasury may also allow small exceptions.
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Except as provided in subsection (c) and section 18
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(b)(1)apply to a de minimis volume of transactions
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(c)(1)(C) - Platforms also may not offer coins from foreign issuers that cannot or will not obey lawful U.S. orders.
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It shall be unlawful for any digital asset service provider to offer, sell, or otherwise make available in the United States a payment stablecoin issued by a foreign payment stablecoin issuer unless the foreign payment stablecoin issuer has the technological capability to comply, and will comply, with the terms of any lawful order
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(b)(2) - Sending coins straight to another person, or using a wallet you control, is not covered by these limits.
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the direct transfer of digital assets between 2 individuals acting on their own behalf and for their own lawful purposes, without the involvement of an intermediary
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(h)(1)(A)to any transaction by means of a software or hardware wallet that facilitates an individual's own custody of digital assets
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(h)(1)(C)
If you run or plan a stablecoin business
You need a federal or state license
- Banks and credit unions can issue coins through a subsidiary once their regulator approves it.
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a subsidiary of an insured depository institution that has been approved to issue payment stablecoins under section 5
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(23)(A)applications from any insured depository institution that seeks to issue payment stablecoins through a subsidiary
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 5(a)(1)(A)an insured credit union
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(15)(B)the appropriate Federal banking agency of such insured depository institution
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(25)(A)with respect to an insured credit union or a subsidiary of an insured credit union, the National Credit Union Administration
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(25)(B) - Other companies need approval from the OCC or a state regulator.
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a nonbank entity, other than a State qualified payment stablecoin issuer, approved by the Comptroller, pursuant to section 5, to issue payment stablecoins
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(11)(A)approved to issue payment stablecoins by a State payment stablecoin regulator
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(31)(A) - A federal regulator must rule on a complete application within 120 days, or it counts as approved.
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Not later than 120 days after receiving a substantially complete application under subsection (a), a primary Federal payment stablecoin regulator shall render a decision on the application.
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 5(d)(1)(A)the application shall be deemed approved
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 5(d)(3) - Knowingly issuing without approval can bring a fine of up to $1 million per violation and up to 5 years in prison.
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shall be fined not more than $1,000,000 for each such violation, imprisoned for not more than 5 years, or both
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 3(f)(1) - The money-laundering and sanctions laws for U.S. financial firms apply to you.
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shall be subject to all Federal laws applicable to a financial institution located in the United States relating to economic sanctions, prevention of money laundering
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(5)(A) - You must be able to freeze or block coins when a court or agency lawfully orders it.
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A permitted payment stablecoin issuer may issue payment stablecoins only if the issuer has the technological capability to comply, and will comply, with the terms of any lawful order.
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(6)(B)requires a person to seize, freeze, burn, or prevent the transfer of payment stablecoins issued by the person
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 2(16)(A) - Above $50 billion in coins out, you must post audited yearly financial statements. This applies if you do not already file reports with the Securities and Exchange Commission.
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A permitted payment stablecoin issuer with more than $50,000,000,000 in consolidated total outstanding issuance, that is not subject to the reporting requirements under section 13(a) or 15(d) of the Securities and Exchange Act of 1934
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(10)(A)(i)make such audited financial statements publicly available on the website of the permitted payment stablecoin issuer
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(a)(10)(B)(i) - If you are a state-approved issuer with $10 billion or less in coins out, you can stay under state oversight.
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a State qualified payment stablecoin issuer with a consolidated total outstanding issuance of not more than $10,000,000,000 may opt for regulation under a State-level regulatory regime
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(c)(1) - Your state's rules must be certified as substantially similar to the federal rules.
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provided that the State-level regulatory regime is substantially similar to the Federal regulatory framework under this Act
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(c)(1)an initial certification that the State-level regulatory regime meets the criteria for substantial similarity
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(c)(4)(A) - Above $10 billion, within 360 days you must move under federal rules run with your state regulator, get a waiver, or stop issuing new coins.
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not later than 360 days after the payment stablecoin reaches such threshold, transition to the Federal regulatory framework under subsection (a) administered by the relevant State payment stablecoin regulator and the Comptroller, acting in coordination
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(d)(2)(A)cease issuing new payment stablecoins until the payment stablecoin is under the $10,000,000,000 consolidated total outstanding issuance threshold
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(d)(2)(B)to remain solely supervised by a State payment stablecoin regulator
[4] S. 1582 as passed by both chambers (enrolled), signed as Public Law 119-27 · Sec. 4(d)(3)(A)
Read the full breakdown of S. 1582
S. 146
Latest official action May 19, 2025 · Drafted by AI, awaiting review
If someone posts an intimate image of you
You can make the site take it down within 48 hours
If you run a website, forum, or app
You need a way for people to ask for removal
If you post things online
Flagged posts can come down before anyone checks
- A site cannot be sued for removing a flagged image in good faith, even if the image turns out to be legal.
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regardless of whether the intimate visual depiction is ultimately
[4] S. 146 as passed by both chambers (enrolled) · Sec. 3(a)(4) - The law's process is only for asking a site to remove an image, not for asking to put a post back.
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submit a request for the covered platform to remove such intimate visual depiction
[4] S. 146 as passed by both chambers (enrolled) · Sec. 3(a)(1)(A)(ii)
Read the full breakdown of S. 146
Breakdowns marked “Drafted by AI” passed our automatic checks and are waiting for human review, as shown on each bill page.