S.Amdt. 1799

SA 1799. Ms. HASSAN (for herself and Ms. Ernst) submitted an amendment intended to be proposed by her to the bill S. 1260, to establish a new Directorate for Technology and Innovation in the National Science Foundation, to establish a regional technology hub program, to require a strategy and report on economic security, science, research, innovation, manufacturing, and job creation, to establish a critical supply chain resiliency program, and for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ____. VIRTUAL CURRENCIES AND THEIR GLOBAL USE.

(a) Report.--Not later than 2 years after the date of enactment of this Act, the Secretary of the Treasury, in consultation with the Attorney General, the United States Trade Representative, the Board of Governors of the Federal Reserve System, the Office of the Director of National Intelligence, and any other agencies or departments that the Secretary of the Treasury determines are necessary, shall submit to the Committee on Finance, the Committee on Banking, Housing, and Urban Affairs, and the Committee on the Judiciary of the Senate and the Committee on Ways and Means, the Committee on the Judiciary, and Committee on Financial Services of the House of Representatives a report on virtual currency, which shall--

(1) identify and rank the countries that host--

(A) the largest state and private industry generators of virtual currency;

(B) the largest state and private industry users of virtual currency; and

(C) the largest or most active money services businesses that engage in virtual currency transactions;

(2) identify policies adopted by the foreign countries listed in paragraph (3)to develop and protect their domestic virtual currency industry;

(3) identify, to the greatest extent practicable, the types and dollar value of virtual currency mined, as well as an estimate of the amount of energy consumed doing so for each of fiscal years 2016 through 2021 within the United States and globally, as well as within the People's Republic of China, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Bolivarian Republic of Venezuela, the Republic of Cuba, the Republic of the Union of Myanmar, the Syrian Arab Republic, and the Russian Federation;

(4) identify vulnerabilities, including those related to security, disruptions, and technology availability, of the global microelectronic supply chain with respect to virtual currency mining operations; and

(5) provide policy and legislative recommendations to address the issues identified in paragraphs (3) and (4).

(b) Classified Annex.--The report submitted under subsection (a) shall be submitted in unclassified form, but may include a classified annex.