119-s1803

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1803 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1803

 To prohibit certain individuals from engaging in prohibited financial 
 transactions, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 May 19, 2025

 Mr. Bennet introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

 A BILL

 To prohibit certain individuals from engaging in prohibited financial 
 transactions, and for other purposes.

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

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Stop Trading Assets Benefitting 
Lawmakers' Earnings while Governing Exotic and Novel Investments in the 
United States Act'' or the ``STABLE GENIUS Act''.

SEC. 2. PROHIBITED FINANCIAL TRANSACTIONS.

    (a) 

=== Definitions. ===
-In this section:

    (1) Covered election.--The term ``covered election'' means 
 an election for the office of--
        (A) President;
        (B) Vice President;
            (C) United States Senator;
            (D) United States Representative;
        (E) Delegate to Congress; or
        (F) Resident Commissioner of Puerto Rico.

    (2) Covered individual.--The term ``covered individual'' 
 means--
        (A) the President;
        (B) the Vice President;
            (C) a United States Senator;
            (D) a United States Representative;
        (E) a Delegate to Congress;
        (F) a Resident Commissioner of Puerto Rico; or
        (G) a candidate in a covered election.

    (3) Covered investment.--The term ``covered investment'' 
 means any digital asset.

    (4) Digital asset.--The term ``digital asset'' means any 
 digital representation of value that is recorded on a 
 cryptographically secured distributed ledger or any similar 
 technology.

    (5) Prohibited financial transaction.--
        (A) In general.--The term ``prohibited financial 
 transaction'' means--
            (i) any issuance, sponsorship, or 
 endorsement of a covered investment;
            (ii) any purchase, sale, holding, or other 
 conduct that causes a covered individual to 
 obtain a covered investment;
            (iii) any acquisition of any financial 
 interest comparable to an interest described in 
 clause
            (i) or
            (ii) through synthetic means, 
 such as the use of a derivative, including an 
 option, warrant, or other similar means; or
            (iv) any acquisition of any financial 
 interest comparable to an interest described in 
 clause
            (i) or
            (ii) as part of an aggregation or 
 compilation of such interests through a mutual 
 fund, exchange-traded fund, or other similar 
 means.

    (6) Qualified blind trust.--The term ``qualified blind 
 trust'' means a qualified blind trust (as defined in 

section 13104

    (f)

    (3) of title 5, United States Code) that has been 
 approved in writing by the applicable supervising ethics office 
 under subparagraph
            (D) of such 

section 13104

    (f)

    (3) .

    (b) Prohibited Financial Transactions.--Except as provided in 
subsection
            (c) , a covered individual may not engage in any prohibited 
financial transaction during--

    (1) the period beginning on the date of filing as a 
 candidate in a covered Federal election and ending on the date 
 of the covered Federal election;

    (2) the term of service of the covered individual; and

    (3) the 1-year period beginning on the date on which the 
 service of the covered individual is terminated.
            (c) Qualified Blind Trust.--

    (1) In general.--During any of the periods described in 
 subsection

    (b) , for each covered investment owned by a covered 
 individual, the covered individual shall place the covered 
 investment in a qualified blind trust, including by 
 establishing a qualified blind trust for that purpose, if 
 necessary.

    (2) Qualified blind trust requirements.--A qualified blind 
 trust may not be established for purposes of complying with 
 this section without the prior approval of the applicable 
 supervising ethics office. With respect to any such trust so 
 approved, the applicable trustee--
        (A) shall divest of any such instrument placed in 
 the trust not later than 6 months after the trust is 
 established;
        (B) shall certify to the applicable supervising 
 ethics office on an annual basis that the trustee has 
 not provided any information on the trust's assets or 
 transactions to the applicable covered individual; and
            (C) may not have a close personal or business 
 relationship with the applicable covered individual.
            (d) Reporting Requirements.--

    (1) Supervising ethics offices.--Each supervising ethics 
 office shall make available on the public website of the 
 supervising ethics office a copy of any qualified blind trust 
 agreement of each covered individual.

    (2) Amendment.--

Section 13101

    (18) of title 5, United States 
 Code, is amended--
        (A) in subparagraph
            (C) , by striking ``and'' at the 
 end;
        (B) in subparagraph
            (D) , by striking the period and 
 inserting ``; and''; and
            (C) by adding at the end the following:
 ``
        (E) the Federal Election Commission for a 
 candidate in an election for the office of President, 
 Vice President, United States Senator, United States 
 Representative, Delegate to Congress, or Resident 
 Commissioner of Puerto Rico.''.

    (e) Liability and Immunity.--For purposes of any immunities to 
civil or criminal liability, any conduct comprising or relating to a 
prohibited financial transaction under this section shall be deemed an 
unofficial act and beyond the scope of the official duties of the 
relevant covered individual.

    (f) Civil Penalties.--

    (1) Civil action.--The Attorney General may bring a civil 
 action in any appropriate district court of the United States 
 against any covered individual who violates subsection

    (b) .

    (2) Civil penalty.--Any covered individual who knowingly 
 violates subsection

    (b) shall be subject to a civil monetary 
 penalty of not more than $250,000.

    (3) Disgorgement.--A covered individual who is found in a 
 civil action under paragraph

    (1) to have violated subsection

    (b) shall disgorge to the Treasury of the United States any 
 profit from the unlawful activity that is the subject of that 
 civil action.

    (g) Criminal Penalties.--

    (1) In general.--It shall be unlawful for a covered 
 individual to--
        (A) knowingly violate subsection

    (b) ; and
        (B) through such violation--
            (i) causes an aggregate loss of not less 
 than $1,000,000 to 1 or more persons in the 
 United States; or
            (ii) benefits financially, through profit, 
 gain, or advantage, directly or indirectly 
 through any family member or business associate 
 of the covered individual, from a prohibited 
 financial transaction.

    (2) Penalty.--A covered individual who violates paragraph

    (1) shall be fined under title 18, United States Code, 
 imprisoned for not more than 18 years, or both.
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