Stop Presidential Profiteering from Digital Assets Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3314 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3314

To prohibit the issuance, promotion, or sale of digital assets that use
the name, likeness, or identifiable traits of certain Federal officials
    or their immediate family for financial gain, and to establish
   regulatory oversight under the Securities and Exchange Commission.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 8, 2025

    Mr. Torres of New York introduced the following bill; which was
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL

To prohibit the issuance, promotion, or sale of digital assets that use
the name, likeness, or identifiable traits of certain Federal officials
    or their immediate family for financial gain, and to establish
   regulatory oversight under the Securities and Exchange Commission.

    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 Presidential Profiteering from
Digital Assets Act''.

SEC. 2. DEFINITIONS.

    For the purposes of this Act:
            (1) Digital asset means a digital representation of value
        that is recorded on a cryptographically secured distributed
        ledger or any similar technology, including but not limited to,
        cryptocurrencies, stablecoins, and meme coins.
            (2) Covered individual means:
                    (A) The President or Vice President of the United
                States;
                    (B) Members of Congress;
                    (C) Any Federal officer or official confirmed by
                the Senate; or
                    (D) Any immediate family member of such
                individuals.
            (3) Immediate family member includes a spouse, child, or
        other relative residing in the same household.
            (4) Identifiable traits include name, image, likeness,
        signature, slogans, or other personally distinguishing
        characteristics.

SEC. 3. PROHIBITION ON DIGITAL ASSET EXPLOITATION FOR PERSONAL GAIN.

    (a) Unlawful Conduct.--It shall be unlawful for any person to
issue, promote, market, or sell a digital asset that:
            (1) Uses the identifiable traits of a covered individual;
        and
            (2) Is reasonably likely to result in direct or indirect
        financial gain to such individual.
    (b) Presumption of Violation.--A digital asset that meets the
conditions in subsection (a) shall be presumed to violate this Act,
regardless of consent or endorsement by the covered individual.
    (c) Consent Not a Defense.--Voluntary participation or
authorization by a covered individual shall not constitute a defense to
liability under this section.

SEC. 4. ENFORCEMENT BY SECURITIES AND EXCHANGE COMMISSION.

    (a) Authority.--The Securities and Exchange Commission shall have
exclusive authority to enforce the provisions of this Act.
    (b) Penalties.--Any person found to have violated this Act shall be
subject to:
            (1) A civil penalty not to exceed $250,000 per violation;
        or
            (2) An amount equal to the gross financial gain received,
        whichever is greater.
    (c) Injunctive Relief.--The Commission may seek injunctive relief
to prevent the issuance or further distribution of prohibited digital
assets.

SEC. 5. RULEMAKING.

    The Securities and Exchange Commission shall promulgate regulations
to implement and enforce this Act no later than 180 days after its
enactment.
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