Does Brad Sherman Support Crypto?

Bill

Combatting Money Laundering in Cyber Crime Act of 2025

Details

This bill expands the United States Secret Service's authority to investigate crimes related to digital asset transactions and transnational cyber criminal activity. It specifically targets issues like unlicensed money transmitting businesses, structured transactions, and fraud against financial institutions. Additionally, the legislation extends the duration of the FinCEN Exchange program and mandates a Government Accountability Office study on law enforcement's ability to deter money laundering in cyber crimes.

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Ban Crypto Corruption Resolution

Details

This House Resolution aims to prevent personal enrichment through cryptocurrency ventures by public officials and their families, addressing concerns about conflicts of interest and foreign influence. It proposes measures such as prohibiting the issuance or endorsement of digital assets by these individuals, requiring their digital asset holdings to be placed in blind trusts, banning foreign investment in their crypto projects, and mandating disclosure of all cryptocurrency transactions, with civil and criminal penalties for violations.

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CLARITY Act

Details

The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.

Vote

Final Passage Out Of House

Bill

GENIUS Act

Details

The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.

Vote

Final Passage Out Of House

Quoted from cointelegraph.com · 2025-06-11

“The US House Committee on Financial Services has advanced a crypto market structure bill called the Digital Asset Market Clarity (CLARITY) Act, which will soon head to the full House floor for a vote.

House Financial Services lawmakers voted 32 to 19 on Tuesday to put the CLARITY Act to a full floor vote…”

Brad Sherman was one of the representatives who voted against advancing this pro-crypto legislation.

Bill

H.J. Res 25

Details

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".

Vote

Final Passage Out Of House