Does Yadira Caraveo Support Crypto?

Bill

Uniform Treatment of Custodial Assets Act

Details

This bill, titled the "Uniform Treatment of Custodial Assets Act," prohibits federal financial regulators, including the SEC and federal banking agencies, from requiring financial institutions to treat assets held in custody—specifically mentioning assets associated with cryptographic keys or digital assets—as liabilities on their balance sheets. It also prevents these agencies from mandating additional regulatory capital against such custodial assets, except for operational risk mitigation under general regulations. The aim is to clarify accounting treatment for crypto assets held by regulated entities.

Quoted from standwithcrypto.org · 2024-06-11

Congresswoman Caraveo completed the Stand With Crypto Questionnaire and demonstrated support for crypto and digital assets. She emphasized the importance of crypto in driving technological innovation, economic growth, and job creation. Congresswoman Caraveo supports comprehensive regulatory frameworks that offer clarity and promote responsible innovation.

Bill

CBDC Anti-Surveillance State Act

Details

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.

Vote

Final Passage Out Of House

Bill

FIT21

Details

This bill establishes a comprehensive regulatory framework for digital assets, assigning primary jurisdiction over "digital commodities" to the CFTC and "restricted digital assets" to the SEC. It defines key terms like "digital asset," "digital commodity," and "permitted payment stablecoin," and creates a mechanism for digital assets to transition from securities to commodities upon achieving sufficient decentralization. The legislation also outlines registration requirements for various digital asset intermediaries and mandates studies on decentralized finance and non-fungible digital assets.

Vote

Final Passage Out Of House

Bill

SAB 121 House Joint Resolution

Details

For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.

Vote

Final Passage Out Of House

Bill

Cryptocurrency Accountability Act

Details

This bill, the "Cryptocurrency Accountability Act," mandates that Members of Congress, along with their spouses and dependent children, disclose their financial interests in cryptocurrency. This includes reporting transactions over $1,000 and their total holdings annually. The legislation also establishes penalties, including fines and potential civil action by the Attorney General, for any failure to comply with these disclosure requirements.

Quoted from caraveo.house.gov · 2023-07-27

Congresswoman Yadira Caraveo, M.D. (CO-08), Ranking Member on the House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development, today released the following statement after casting her vote to pass the Financial Innovation and Technology for the 21st Century Act  (H.R. 4763), a cryptocurrency regulation bill, out of the House Agriculture Committee with bipartisan support.

“At least 70 percent of digital assets are currently unregulated. That leaves a huge number of retail investors unprotected in a volatile market class where many people have already lost their life savings. We have to act now to prevent more FTX-like disasters. As the Ranking Member on the House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development, I’m grateful for Chairman Johnson and Chairman Thompson’s willingness to work on a bipartisan basis as we make this first step to improve transparency and protect investors.”