Uniform Treatment of Custodial Assets Act

Summary

Uniform Treatment of Custodial Assets Act This bill addresses the accounting treatment of certain assets, including digital assets, at financial institutions. For example, under the bill, federal regulatory entities are prohibited from requiring specified financial institutions to include as a liability on financial statements assets that are held in custody or safekeeping by the institution. This applies to assets associated with a cryptographic key held in custody or safekeeping by the financial institution. However, if cash held by an institution for a third party is commingled with the general assets of the institution, that cash may be treated as a liability.

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Timeline

1. 27 September 2023

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 27 September 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 September 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 September 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 September 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 September 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 September 2023

  Open at official source

Sponsors

• Mike Flood · R · Sponsor
• Rep. Torres, Ritchie [D-NY-15] · D · Sponsor
• J. Hill · R · Sponsor
• Wiley Nickel · D · Sponsor
• Andy Barr · R · Cosponsor
• Henry Cuellar · D · Cosponsor
• Daniel Meuser · R · Cosponsor
• Tom Emmer · R · Cosponsor
• Rep. Horsford, Steven [D-NV-4] · D · Cosponsor
• Jonathan Jackson · D · Cosponsor
• Rep. Tenney, Claudia [R-NY-24] · R · Cosponsor
• Rep. Davis, Donald G. [D-NC-1] · D · Cosponsor
• Zachary Nunn · R · Cosponsor
• Rep. Goldman, Daniel S. [D-NY-10] · D · Cosponsor
• Scott Peters · D · Cosponsor
• Darren Soto · D · Cosponsor
• Rep. Garcia, Robert [D-CA-42] · D · Cosponsor
• Eric Sorensen · D · Cosponsor
• Rep. Gottheimer, Josh [D-NJ-5] · D · Cosponsor
• Brendan Boyle · D · Cosponsor
• Yadira Caraveo · D · Cosponsor
• William Timmons · R · Cosponsor
• Rep. Krishnamoorthi, Raja [D-IL-8] · D · Cosponsor
• · hsba00 · Standing

Related records

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