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Promoting Innovation in Blockchain Development Act
To amend section 1960(a) of title 18, United States Code.
Summary
The bill amends federal law regarding unlicensed money transmitting by expanding the definition to include anyone who exercises control over digital assets or other value that substitutes for currency. This modification would bring cryptocurrency and similar digital assets under the existing regulatory framework that currently applies to traditional money transmitting businesses. The amendment clarifies which activities related to digital currencies and blockchain-based systems fall under federal money transmission laws.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
13 cosponsors
- Rep. Carey, Mike [R-OH-15] (R-OH)
- Rep. Cline, Ben [R-VA-6] (R-VA)
- Rep. Davidson, Warren [R-OH-8] (R-OH)
- Rep. Figures, Shomari [D-AL-2] (D-AL)
- Rep. Garbarino, Andrew R. [R-NY-2] (R-NY)
- Rep. Grothman, Glenn [R-WI-6] (R-WI)
- Rep. Landsman, Greg [D-OH-1] (D-OH)
- Rep. Lawler, Michael [R-NY-17] (R-NY)
- Rep. Lofgren, Zoe [D-CA-18] (D-CA)
- Rep. Moore, Barry [R-AL-1] (R-AL)
- Rep. Nehls, Troy E. [R-TX-22] (R-TX)
- Rep. Thanedar, Shri [D-MI-13] (D-MI)
- Rep. Veasey, Marc A. [D-TX-33] (D-TX)
Actions (2)
- Feb 26, 2026 Referred to the House Committee on the Judiciary. · house
- Feb 26, 2026 Introduced in House
Similar bills (6)
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Full text
IN THE HOUSE OF REPRESENTATIVES
February 26, 2026
Mr. Fitzgerald (for himself, Ms. Lofgren, and Mr. Cline) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL
To amend section 1960(a) of title 18, United States Code.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Promoting Innovation in Blockchain Development Act”.
SEC. 2. AMENDMENT TO SECTION 1960 OF TITLE 18.
Section 1960(a) of title 18, United States Code, is amended by inserting “exercises control over currency, funds, or other value that substitutes for currency, and” after “Whoever knowingly”. <all>
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