118th Congress (2023–2025) · House bill · Sponsor: Rep. Thompson, Glenn [R-PA-15]
This page covers HR4763 in the 118th Congress. Bill numbers start over every Congress, so HR4763 in another Congress is a different bill.
| Item | Detail |
|---|---|
| Roll-call votes | 1 |
| Chamber | House |
| Latest vote | 2024-05-22: Passed |
| Latest action | 2024-09-09: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy area | Finance and Financial Sector |
| Official record | Congress.gov |
Financial Innovation and Technology for the 21st Century Act This bill establishes a regulatory framework for digital assets. The Commodity Futures Trading Commission (CFTC) must regulate a digital asset as a commodity if the blockchain, or digital ledger, on which it runs is functional and decentralized. The bill classifies a blockchain as decentralized if, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset. In addition, the bill provides the CFTC with exclusive regulatory authority over cash or spot markets for digital commodities. The Securities and Exchange Commission (SEC) must regulate a digital asset as a security if its associated blockchain is functional but not decentralized. However, the bill establishes certain exceptions to SEC regulation for digital assets that limit annual sales, restrict nonaccredited investor access, and satisfy disclosure and compliance requirements. The bill also sets forth requirements for primary and secondary market transactions. The CFTC and SEC must jointly issue rules to define terms and exempt dually registered exchanges from duplicative rules.
Subjects: Administrative law and regulatory procedures, Advanced technology and technological innovations, Commodities markets, Commodity Futures Trading Commission, Computers and information technology, Currency, Digital media, Licensing and registrations, Securities, Securities and Exchange Commission (SEC)
Every recorded vote on this bill, newest first, with a link to the official tally. Member-by-member positions are on each member’s profile.
| Date | Chamber | Question | Result | Yea | Nay | Not voting | Record |
|---|---|---|---|---|---|---|---|
| 2024-05-22 | House | Recorded Vote | Passed | 236 | 119 | 12 | Official tally |
HR4763 (Financial Innovation and Technology for the 21st Century Act) was introduced in the 118th Congress (2023–2025) by Rep. Thompson, Glenn [R-PA-15].
On 2024-09-09: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
1 recorded vote in the 118th Congress. The most recent, on 2024-05-22, was "Recorded Vote": Passed.