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H.R. 7338: To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.

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H.R. 7338: To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.

117th Congress · introduced 2022-03-31 · International Affairs · Latest: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2022-03-31 · official record
  2. Who proposed it: Rep. Meeks, Gregory W. [D-NY-5] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Foreign Relations. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.

Plain summary

Russia Cryptocurrency Transparency Act This bill requires the Department of State to notify Congress before paying out a reward in cryptocurrency under an existing program that authorizes rewards for information leading to the arrest or conviction of parties responsible for certain criminal acts. (Current law allows such rewards to consist of money, nonmonetary items, or both.) The State Department must also report to Congress on any cryptocurrency payments made under the rewards program, including an explanation of why a reward was made using cryptocurrency. The bill also requires the State Department to report to Congress on the most effective avenues to provide aid to Ukraine, including possible uses of cryptocurrencies or other blockchain-related technologies. (Blockchain is a digital ledger technology that allows for transactions without a trusted intermediary, such as a bank.) The Department of the Treasury must report to Congress an assessment of how digital currencies can affect the effectiveness and enforcement of U.S. sanctions relating to Russia's invasion of Ukraine.

Congressional Research Service summary (Passed House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To require congressional notification prior to payments of Department of State rewards using cryptocurrencies, and for other purposes.

Source: Congressional Research Service summary (Passed House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Meeks, Gregory W. [D-NY-5] · 1 cosponsors

Cost estimate: CBO cost estimate: H.R. 7338, Russia Cryptocurrency Transparency Act (2022-04-29)

Cosponsors on this site

Michael T. McCaul (R-TX)

Sponsor's campaign money: Rep. Meeks, Gregory W. [D-NY-5] reported raising $2.3 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Agencies named in this bill

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No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-hr7338 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117