S.Amdt. 4352

SA 4352. Mr. DURBIN submitted an amendment intended to be proposed by
him to the bill H.R. 6644, a bill to increase the supply of housing in
America, and for other purposes; which was ordered to lie on the table;
as follows:

At the appropriate place, insert the following:

SEC. ___. PROHIBIT SOCIAL SECURITY TRUST FUNDS FROM INVESTING
IN CRYPTOCURRENCY.

Section 201 of the Social Security Act (42 U.S.C. 401) is
amended--
(1) in subsection (d), by inserting after the second
sentence the following: ``Such investment may not be made in
any digital asset or any crypto-related investment.''; and
(2) by adding at the end the following new subsection:
``(o) For purposes of subsection (d)--
``(1) the term `digital asset' has the same meaning given
such term in section 2 of the GENIUS Act (12 U.S.C. 5901);
and
``(2) the term `crypto-related investment' means--
``(A) any investment fund under the Investment Company Act
of 1940 (15 U.S.C. 80a-1 et seq.) related to futures on
digital assets (as so defined) or on digital asset indices;
``(B) any stock or bond of a public company that--
``(i) substantially derives its value from holdings of
digital assets; or
``(ii) primarily derives revenue from providing products or
services (including issuance, trading, management,
distribution, custody, settlement, or similar services)
related to digital assets; or
``(C) any other asset or investment whose value is tied to,
or derived from, digital assets.''.
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