S. 1405In Committee
PROOF Act
Requires digital exchanges to protect customer crypto assets, separate customer funds, and publish proof of reserves through independent attestations
Plain-English overview
What this bill does
Requires digital exchanges to protect customer crypto assets, separate customer funds, and publish proof of reserves through independent attestations
Key points
- Require customer asset segregation
- Require proof of reserves attestations
- Prohibit third party use of assets
- Direct Treasury publication of attestations
Current status
Where it stands
Status
In Committee
Latest action
2025-04-10 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related context
Topics and policy areas
undefinedFinance and Financial Sector