I 
115TH CONGRESS 
2D SESSION 
H. R. 7224 
To promote fair and transparent virtual currency markets by examining 
the potential for price manipulation. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 6, 2018 
Mr. SOTO (for himself, Mrs. WATSON COLEMAN, and Mr. BUDD) introduced 
the following bill; which was referred to the Committee on Financial Serv-
ices, 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 con-
cerned 
A BILL 
To promote fair and transparent virtual currency markets 
by examining the potential for price manipulation. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Virtual Currency Con-
sumer Protection Act of 2018’’. 
SEC. 2. SENSE OF THE CONGRESS. 
It is the sense of Congress that virtual currency could 
have a significant effect on the economy, and regulation 
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of them may be important to protect investors, deter bad 
actors, create market certainty, and ensure American com-
petitiveness in an evolving global marketplace. 
SEC. 3. STUDY AND REPORT ON THE PREVENTION OF VIR-
TUAL CURRENCY PRICE MANIPULATION. 
(a) IN GENERAL.—Not later than one year after the 
date of the enactment of this Act, the Chairman of the 
Commodity Futures Trading Commission, in consultation 
with the heads of the Securities and Exchange Commis-
sion and other relevant Federal agencies (as determined 
by the Chairman of the Commodity Futures Trading Com-
mission), shall submit to the Committees on Agriculture 
and on Financial Services of the House of Representatives 
and the Committees on Agriculture, Nutrition, and For-
estry and on Banking, Housing, and Urban Affairs of the 
Senate a report to promote fair and transparent virtual 
currency markets by examining the potential for price ma-
nipulation. The report shall include the following: 
(1) A brief description of— 
(A) methods by which persons could ma-
nipulate the price of virtual currencies; 
(B) which types of virtual currency, if any, 
are more susceptible to being manipulated; and 
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(C) the effects on, and particular harm to, 
investors if price manipulation of virtual cur-
rencies occurs. 
(2) An analysis of the extent to which the regu-
latory authority of the Commodity Futures Trading 
Commission and other relevant Federal agencies al-
lows for— 
(A) market surveillance of virtual cur-
rencies for signs of manipulation; and 
(B) enforcement of Federal regulations 
against persons involved in any such manipula-
tion. 
(3) 
Recommendations 
for 
any 
legislative 
changes needed to improve the ability of the Com-
modity Futures Trading Commission and other rel-
evant Federal agencies— 
(A) to carry out the monitoring and en-
forcement activities described in paragraph (2); 
(B) to prevent price manipulations of vir-
tual currencies; and 
(C) to protect virtual currency investors 
from price manipulation. 
(b) VIRTUAL CURRENCY DEFINED.—In this Act, the 
term ‘‘virtual currency’’ means a digital representation of 
value that does not have legal tender status and that func-
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tions as a medium of exchange, a unit of account, or a 
store of value. 
Æ 
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