United States · Bill · HR
H.R. 4763 (118th)
Financial Innovation and Technology for the 21st Century Act
Introduced
20 July 2023
Last action
9 September 2024 · Introduced
Status
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
Rep. Thompson, Glenn [R-PA-15], Rep. Hill, J. French [R-AR-2], Rep. Johnson, Dusty [R-SD-At Large], Rep. Davidson, Warren [R-OH-8], Rep. Emmer, Tom [R-MN-6], Rep. Molinaro, Marcus J. [R-NY-19], Rep. Cuellar, Henry [D-TX-28], Rep. Nickel, Wiley [D-NC-13], Sen. Curtis, John R. [R-UT], Sen. Banks, Jim [R-IN], Rep. McHenry, Patrick T. [R-NC-10], Rep. Torres, Ritchie [D-NY-15]
Subjects
Discovery layer
Source updated
27 May 2025
Summary
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. The bill excludes permitted stablecoins from CFTC and SEC regulation, except regarding anti-fraud authority and specified transactions on registered entities.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
20 July 2023
Introduced
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
20 July 2023
Introduced
Introduced in House
Source: IntroReferral
20 July 2023
Introduced
Introduced in House
Source: IntroReferral
26 July 2023
Vote
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 15.
Source: Committee
26 July 2023
Committee
Committee Consideration and Mark-up Session Held
Source: Committee
27 July 2023
Reported
Ordered to be Reported (Amended) by Voice Vote.
Source: Committee
27 July 2023
Committee
Committee Consideration and Mark-up Session Held
Source: Committee
6 May 2024
Calendars
Placed on the Union Calendar, Calendar No. 401.
Source: Calendars
6 May 2024
Reported
Reported (Amended) by the Committee on Agriculture. H. Rept. 118-484, Part I.
Source: Committee
6 May 2024
Reported
Reported (Amended) by the Committee on Agriculture. H. Rept. 118-484, Part I.
Source: Committee
21 May 2024
Reported
Rules Committee Resolution H. Res. 1243 Reported to House. Rule provides for consideration of H.R. 4763, H.R. 5403 and H.R. 192. The resolution provides for one hour of debate on each bill. H.R. 4763 and H.R. 5403 are considered under a structured rule and H.R. 192 is considered under a closed rule. The resolution provides for one motion to recommit on each bill.
Source: Floor
22 May 2024
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
22 May 2024
Vote
On passage Passed by recorded vote: 279 - 136 (Roll no. 226). (text: CR H3432-3455)
Source: Floor
22 May 2024
Vote
Passed/agreed to in House: On passage Passed by recorded vote: 279 - 136 (Roll no. 226). (text: CR H3432-3455)
Source: Floor
22 May 2024
Passed
The House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.
Source: Floor
22 May 2024
Floor
The previous question was ordered pursuant to the rule.
Source: Floor
22 May 2024
Floor
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 4763.
Source: Floor
22 May 2024
Floor
Rule provides for consideration of H.R. 4763, H.R. 5403 and H.R. 192. The resolution provides for one hour of debate on each bill. H.R. 4763 and H.R. 5403 are considered under a structured rule and H.R. 192 is considered under a closed rule. The resolution provides for one motion to recommit on each bill.
Source: Floor
22 May 2024
Floor
The Speaker designated the Honorable Michael Guest to act as Chairman of the Committee.
Source: Floor
22 May 2024
Floor
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1243 and Rule XVIII.
Source: Floor
22 May 2024
Floor
Considered under the provisions of rule H. Res. 1243. (consideration: H3419–3463)
Source: Floor
9 September 2024
Introduced
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral
Votes
22 May 2024 · passed · On Passage · Passed · Official source
Yes 279 · No 136 · Abstain — · Absent/not voting 15
- Rep. Ferguson, A. Drew, IV [R-GA-3]Aye
- Rep. Bean, Aaron [R-FL-4]Aye
- Rep. Spanberger, Abigail Davis [D-VA-7]Aye
- Sen. Schiff, Adam B. [D-CA]Aye
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Referred in Senate · 9 September 2024 · Download file
- Engrossed in House · 22 May 2024 · Download file
- Reported in House · 6 May 2024 · Download file
- Introduced in House · 20 July 2023 · Download file
Documents
10 official files
Referred in Senate (text)
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Referred in Senate (text)
Referred in Senate · EN · 9 September 2024
Referred in Senate (PDF)
Referred in Senate · EN · 9 September 2024
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Engrossed in House (text)
Engrossed in House · EN · 22 May 2024
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Engrossed in House (PDF)
Engrossed in House · EN · 22 May 2024
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Reported in House (text)
Reported in House · EN · 6 May 2024
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Reported in House (PDF)
Reported in House · EN · 6 May 2024
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Reported to House
summary · EN · 6 May 2024
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Introduced in House (text)
Introduced in House · EN · 20 July 2023
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Introduced in House (PDF)
Introduced in House · EN · 20 July 2023
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Introduced in House
summary · EN · 20 July 2023
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Thompson, Glenn [R-PA-15] · R · Sponsor
- Rep. Hill, J. French [R-AR-2] · R · Sponsor
- Rep. Johnson, Dusty [R-SD-At Large] · R · Sponsor
- Rep. Davidson, Warren [R-OH-8] · R · Sponsor
- Rep. Emmer, Tom [R-MN-6] · R · Sponsor
- Rep. Molinaro, Marcus J. [R-NY-19] · R · Cosponsor
- Rep. Cuellar, Henry [D-TX-28] · D · Cosponsor
- Rep. Nickel, Wiley [D-NC-13] · D · Cosponsor
- Sen. Curtis, John R. [R-UT] · R · Cosponsor
- Sen. Banks, Jim [R-IN] · R · Cosponsor
- Rep. McHenry, Patrick T. [R-NC-10] · R · Cosponsor
- Rep. Torres, Ritchie [D-NY-15] · D · Cosponsor
- · ssbk00 · Standing
- · hsba00 · Standing
- · hsag00 · Standing
Related records
- related to ← Providing for consideration of the bill (H.R. 4763) to provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes; providing for consideration of the bill (H.R. 5403) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; and providing for consideration of the bill (H.R. 192) to prohibit individuals who are not citizens of the United States from voting in elections in the District of Columbia.
- related to ← BRIDGE Digital Assets Act
- amends ← An amendment numbered 4 printed in Part B of House Report 118-516 to add a sense of Congress to the end of title V that nothing in this Act or any amendment made by this Act should be interpreted to authorize any entity to regulate any commodity, other than a digital commodity, on any spot market.
- amends ← Amendment sought to change the new crowdfunding exemption from $75 million to $5 million.
- amends ← An amendment numbered 2 printed in Part B of House Report 118-516 to clarify the application of the Bank Secrecy Act to digital asset and digital commodity entities and to require a Government Accountability Office study on risks posed by centralized intermediaries that are primarily located in foreign jurisdictions without regulatory requirements similar to those of the Bank Secrecy Act.
- amends ← Amendment requires a study on the impact of digital asset registrants owned by foreign adversaries.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/house-bill/4763
- Open data entity: https://api.congress.gov/v3/bill/118/hr/4763
- us · 118-hr-4763 · source updated 27 May 2025