Sponsors
11 Democrat
Dick DurbinSenator · IL
This legislation amends the Social Security Act to explicitly prohibit the Social Security Trust Funds from investing in digital assets or crypto-related vehicles. The ban covers direct cryptocurrency investments, digital asset futures, and stocks or bonds of public companies that derive significant value or revenue from digital asset holdings, trading, custody, or issuance.
The bill represents a restrictive legislative approach to the digital asset market by preemptively banning public trust fund exposure to cryptocurrency. While the Social Security Trust Funds are historically restricted to non-marketable U.S. Treasury securities, codifying an explicit exclusion of digital assets signals a lack of confidence in the legitimacy and stability of the asset class. Furthermore, the bill's broad definition of 'crypto-related investments' extends the ban to publicly traded equities of companies providing essential crypto services or holding digital assets on their balance sheets. This policy attempts to legally isolate public retirement funds from the digital economy, reinforcing a negative narrative that discourages broader institutional acceptance and integration of digital assets.
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1 Democrat