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(C) OPEN ACCESS REQUIREMENT.—Tools 
and programs developed with a grant made 
under this subsection shall be freely accessible 
and usable by the public. This requirement may 
be fulfilled by publicly availing application pro-
gramming interfaces or software development 
kits. 
SEC. 6. PREVENTING ROGUE AND FOREIGN ACTORS FROM 
EVADING SANCTIONS. 
(a) REPORT AND STRATEGY WITH RESPECT TO DIG-
ITAL CURRENCIES
AND OTHER RELATED EMERGING 
TECHNOLOGIES.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of the enactment of this Act, the 
President, acting through the Secretary of Treasury 
and in consultation with the Attorney General, the 
Secretary of State, the Secretary of Homeland Secu-
rity, the Director of National Intelligence, the Direc-
tor of the Office of Management and Budget, and 
the appropriate Federal banking agencies and Fed-
eral functional regulators, shall— 
(A) submit to the appropriate congres-
sional committees a report that identifies and 
describes the potential uses of digital currencies 
and other related emerging technologies by 
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states, non-state actors, and foreign terrorist 
organizations to evade sanctions, finance ter-
rorism, or launder monetary instruments, and 
threaten United States national security; and 
(B) develop and submit to the appropriate 
congressional committees a strategy to mitigate 
and prevent such illicit use of digital currencies 
and other related emerging technologies. 
(2) FORM; PUBLIC AVAILABILITY.— 
(A) FORM.—The report and strategy re-
quired under paragraph (1) shall be submitted 
in unclassified form, but may contain a classi-
fied annex. 
(B) PUBLIC AVAILABILITY.—The unclassi-
fied portion of such report and strategy shall be 
made available to the public and posted on the 
internet website of the Department of Treas-
ury— 
(i) 
in 
pre-compressed, 
easily 
downloadable versions that are made avail-
able in all appropriate formats; and 
(ii) in machine-readable format, if ap-
plicable. 
(3) SOURCES OF INFORMATION.—In preparing 
the report and strategy required under paragraph 
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(1), the President may utilize any credible publica-
tion, database, web-based resource, and any credible 
information compiled by any government agency, 
nongovernmental organization, or other entity that 
is made available to the President. 
(b) BRIEFING.—Not later than 2 years after the date 
of the enactment of this Act, the Secretary of the Treasury 
shall brief the appropriate congressional committees on 
the implementation of the strategy required under sub-
section (a). 
SEC. 7. DETERMINATION OF BUDGETARY EFFECTS. 
The budgetary effects of this Act, for the purpose of 
complying with the Statutory Pay-As-You-Go Act of 2010, 
shall be determined by reference to the latest statement 
titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 
Act, submitted for printing in the Congressional Record 
by the Chairman of the House Budget Committee, pro-
vided that such statement has been submitted prior to the 
vote on passage. 
SEC. 8. DEFINITIONS. 
For purposes of this Act: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
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(A) the Committee on Financial Services, 
the Committee on the Judiciary, the Permanent 
Select Committee on Intelligence, and the Com-
mittee on Foreign Affairs of the House of Rep-
resentatives; and 
(B) the Committee on Banking, Housing, 
and Urban Affairs, the Committee on Home-
land Security and Governmental Affairs, the 
Committee on the Judiciary, the Select Com-
mittee on Intelligence, and the Committee on 
Foreign Relations of the Senate. 
(2) APPROPRIATE
FEDERAL
BANKING
AGEN-
CIES.—The term ‘‘appropriate Federal banking 
agencies’’ has the meaning given the term in section 
3 of the Federal Deposit Insurance Act (12 U.S.C. 
1813). 
(3) BANK SECRECY ACT.—The term ‘‘Bank Se-
crecy Act’’ means— 
(A) section 21 of the Federal Deposit In-
surance Act; 
(B) chapter 2 of title I of Public Law 91– 
508; and 
(C) subchapter II of chapter 53 of title 31, 
United States Code. 
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(4) DIGITAL
CURRENCY.—The term ‘‘digital 
currency’’— 
(A) means a digital representation of value 
that— 
(i) is used as a medium of exchange, 
unit of account, or store of value; and 
(ii) is not established legal tender, 
whether or not denominated in established 
legal tender; and 
(B) does not include— 
(i) a transaction in which a merchant 
grants, as part of an affinity or rewards 
program, value that cannot be taken from 
or exchanged with the merchant for legal 
tender, bank credit, or digital currency; or 
(ii) a digital representation of value 
issued by or on behalf of a publisher and 
used solely within an online game, game 
platform, or family of games sold by the 
same publisher or offered on the same 
game platform. 
(5) FEDERAL FUNCTIONAL REGULATOR.—The 
term ‘‘Federal functional regulator’’ has the mean-
ing given that term in section 509 of the Gramm- 
Leach-Bliley Act (15 U.S.C. 6809). 
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