I 

116TH CONGRESS 

1ST SESSION H. R. 922 

To promote fair and transparent virtual currency markets by examining 

the potential for price manipulation. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 30, 2019 

Mr. SOTO (for himself, Mr. BUDD, Mr. DAVIDSON of Ohio, and Mrs. WATSON

COLEMAN) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in 

each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To promote fair and transparent virtual currency markets 

by examining the potential for price manipulation. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Virtual Currency Con5 sumer Protection Act of 2019’’. 

6 SEC. 2. SENSE OF THE CONGRESS. 

7 It is the sense of Congress that virtual currency could 

8 have a significant effect on the economy, and regulation 


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1 of them may be important to protect investors, deter bad 

2 actors, create market certainty, and ensure American com3 petitiveness in an evolving global marketplace. 

4 SEC. 3. STUDY AND REPORT ON THE PREVENTION OF VIR5 TUAL CURRENCY PRICE MANIPULATION. 

6 (a) IN GENERAL.—Not later than one year after the 

7 date of the enactment of this Act, the Chairman of the 

8 Commodity Futures Trading Commission, in consultation 

9 with the heads of the Securities and Exchange Commis10 sion and other relevant Federal agencies (as determined 

11 by the Chairman of the Commodity Futures Trading Com12 mission), shall submit to the Committees on Agriculture 

13 and on Financial Services of the House of Representatives 

14 and the Committees on Agriculture, Nutrition, and For15 estry and on Banking, Housing, and Urban Affairs of the 

16 Senate a report to promote fair and transparent virtual 

17 currency markets by examining the potential for price ma18 nipulation. The report shall include the following: 

19 (1) A brief description of— 

20 (A) methods by which persons could ma21 nipulate the price of virtual currencies; 

22 (B) which types of virtual currency, if any, 

23 are more susceptible to being manipulated; and 


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1 (C) the effects on, and particular harm to, 

2 investors if price manipulation of virtual cur3 rencies occurs. 

4 (2) An analysis of the extent to which the regu5 latory authority of the Commodity Futures Trading 

6 Commission and other relevant Federal agencies al7 lows for— 

8 (A) market surveillance of virtual cur9 rencies for signs of manipulation; and 

10 (B) enforcement of Federal regulations 

11 against persons involved in any such manipula12 tion. 

13 (3) Recommendations for any legislative 

14 changes needed to improve the ability of the Com15 modity Futures Trading Commission and other rel16 evant Federal agencies— 

17 (A) to carry out the monitoring and en18 forcement activities described in paragraph (2); 

19 (B) to prevent price manipulations of vir20 tual currencies; and 

21 (C) to protect virtual currency investors 

22 from price manipulation. 

23 (b) VIRTUAL CURRENCY DEFINED.—In this Act, the 

24 term ‘‘virtual currency’’ means a digital representation of 

25 value that does not have legal tender status and that funcVerDate Sep 11 2014 23:17 Feb 11, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H922.IH H922

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1 tions as a medium of exchange, a unit of account, or a 

2 store of value. 

Æ 


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