Criminal penalties relating to prohibited financial transactions

(a) In general Chapter 11 of title 18, United States Code, is amended by adding at the end the following: 227A. Prohibited financial transactions (a) Definitions In this section: (1) Covered individual The term covered individual means— (A) the President; (B) the Vice President; (C) a Member of Congress; (D) an individual appointed to a Senate-confirmed position; or (E) a special Government employee (as defined in section 202) associated with the Executive Office of the President. (2) Member of Congress The term Member of Congress has the meaning given that term in section 13101 of title 5. (3) Prohibited financial transaction (A) In general The term prohibited financial transaction means— (i) any issuance, sponsorship, or endorsement of a cryptocurrency, meme coin, token, non-fungible token, stablecoin, or other digital asset that is sold for remuneration; or (ii) any financial interest comparable to an interest described in clause (i) that is acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means. (B) Exclusions The term prohibited financial transaction does not include the mere purchase, sale, holding, or other conduct relating to financial instruments or assets routinely accessible to any member of the public. (4) Senate-confirmed position The term Senate-confirmed position means a position in a department or agency of the executive branch of the United States for which appointment is required to be made by the President, by and with the advice and consent of the Senate. (b) Benefitting from prohibited financial transaction Any covered individual who— (1) knowingly violates any provision of section 13152(a) of title 5; and (2) through such violation— (A) causes an aggregate loss of not less than $1,000,000 to 1 or more persons in the United States; or (B) benefits financially, through profit, gain, or advantage, directly or indirectly through any family member or business associate of the covered individual, from the sale, purchase, or distribution of the financial interest described in subsection (a)(3)(A)(i) issued, sponsored, or endorsed in violation of section 13152(a) of title 5, shall be fined under this title, imprisoned for not more than 5 years, or both. (c) Bribery Any covered individual who— (1) knowingly violates any provision of section 13152(a) of title 5; and (2) directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept any thing of value personally or for any other person or entity, in return for— (A) being influenced in the performance of any official act; (B) being influenced to commit or aid in committing, or to collude in, or allow, any fraud, or make opportunity for the commission of any fraud, on the United States; or (C) being induced to do or omit to do any act in violation of the official duty of such official or person, shall be fined under this title or not more than 2 times the monetary equivalent of the thing of value, whichever is greater, or imprisoned for not more than 5 years, or both, and may be disqualified from holding any office of honor, trust, or profit under the United States. (d) Intent To incur criminal liability under this section, it shall not be required that a covered individual intended to create a financial interest described in subsection (a)(3)(A)(i) through the issuance, sponsorship or endorsement of the financial interest described in subsection (a)(3)(A)(i). (e) Liability and immunity For purposes of any immunities to civil and criminal liability, any conduct relating to a prohibited financial transaction under this section shall be deemed an unofficial act and beyond the scope of official duties of the relevant covered individual.. (b) Clerical amendment The table of sections for chapter 11 of title 18, United States Code, is amended by inserting after the item relating to section 227 the following: 227A. Prohibited financial transactions..