Application of the Bank Secrecy Act

(a) In general Section 5312(c)(1)(A) of title 31, United States Code, is amended— (1) by inserting digital commodity broker, digital commodity dealer, after futures commission merchant,; and (2) by inserting before the period the following: and any digital commodity exchange registered, or required to register, under the Commodity Exchange Act which permits direct customer access. (b) GAO study (1) In general The Comptroller General of the United States, in consultation with the Secretary of the Treasury, shall conduct a study to— (A) assess the risks posed by centralized intermediaries that are primarily located in foreign jurisdictions that provide services to U.S. persons without regulatory requirements that are substantially similar to the requirements of the Bank Secrecy Act; and (B) provide any regulatory or legislative recommendations to address these risks under subparagraph (A). (2) Report Not later than 1 year after the date of enactment of this Act, the Comptroller General shall issue a report to Congress containing all findings and determinations made in carrying out the study required under paragraph (1).