No Bailout for Crypto Act

This bill would bar federal agencies from giving financial assistance to digital asset (cryptocurrency) businesses, protocols, and bank-regulated firms' digital asset activities to keep them from failing or going bankrupt. It would also block these entities from using Federal Reserve emergency lending programs created under section 13(3) of the Federal Reserve Act. The Treasury Secretary could not use the Exchange Stabilization Fund to benefit them. The bill states that the Federal Reserve's existing authority to lend to depository institutions under section 10B would not change.

Full text and official record on Congress.gov

Sponsors

• Richard J. Durbin Democrat sponsor
• 6 cosponsors