Currency Options, Information, and Navigation Act
- Sponsor
- Rep. Scholten, Hillary J. [D-MI-3]
- Committees
- Small Business Committee (primary)
- Last action
- Sep 15, 2026
Bottom line
This bill directs the SBA to create and disseminate educational resources and an advisory group to help small businesses understand and navigate the complexities and risks associated with digital assets.
What it actually does
This bill amends the Small Business Act to require the Administrator of the Small Business Administration (SBA) to establish and maintain publicly available online educational resources and modules for small business concerns regarding digital assets. These resources will cover benefits, risks, security, vendor evaluation, payment gateways, and different types of digital assets. The bill also mandates the creation of an Advisory Working Group, composed of various experts and federal agency representatives, to consult on the content of these educational materials.
Proponents argue
Supporters argue that small businesses often lack the specialized knowledge and resources to understand emerging technologies like digital assets, making them vulnerable to scams or missed opportunities. This bill provides crucial, neutral information to help them make informed decisions, mitigate risks, and potentially leverage new payment methods or investment avenues, thereby fostering innovation and protecting small business interests.
Opponents contend
Critics might contend that expanding the SBA's role to provide guidance on digital assets could inadvertently legitimize their use, potentially exposing small businesses to the inherent volatility and speculative nature of these assets. Concerns could also be raised about the cost of establishing and maintaining such resources, even if 'no additional amounts are authorized,' as it would divert existing SBA resources from other core functions. Some may also question the government's ability to keep pace with the rapidly evolving digital asset landscape.
The bill is concise and can be read quickly, allowing ample time for evaluation of its provisions.
Section 2, inserting new Section 49 into the Small Business Act
Digital Asset Educational Resources and Modules for Small Business Concerns
This provision directs the Small Business Administration (SBA) to create and maintain online educational materials for small businesses about digital assets. These resources will cover topics such as the benefits and risks (including tax and security implications), how to avoid security risks, evaluating third-party vendors for transactions, understanding digital asset payment gateways, and differentiating between various types of digital assets like stablecoins. The SBA must ensure the information is accurate and current by consulting with various federal agencies and an expert Advisory Working Group.
Supporters argue
Supporters argue this provision empowers small businesses by equipping them with the knowledge to navigate the complex and rapidly evolving digital asset landscape safely and effectively. It helps them understand potential benefits for operations and risks to avoid, fostering innovation while protecting against fraud and misinformation.
Critics contend
Critics might contend that this provision could inadvertently encourage small businesses to engage with potentially volatile or risky digital assets, even with educational resources. They might also argue that the government's role should be primarily regulatory rather than educational or promotional in this specific, rapidly changing, and often speculative area, potentially diverting resources from more traditional small business support.
Tradeoffs
The provision balances the desire to provide helpful information to small businesses about an emerging technology with the inherent risks and volatility associated with digital assets. It aims to inform without endorsing, but the very act of creating resources could be perceived as legitimizing. There's also the tension of keeping information current in a fast-moving sector while ensuring factual accuracy and neutrality.
This clause states that the requirements of Chapter 10 of Title 5, United States Code (the Federal Advisory Committee Act, or FACA), shall not apply to the Advisory Working Group established under this section.
Section 2, new Section 49(d)(5) of the Small Business Act
Why it matters:This is standard legislative practice to exempt certain advisory bodies from FACA requirements, often to streamline their operations, reduce administrative burden, or allow for more flexible membership and meeting schedules. It is generally not considered evasive.
Case for: Proponents argue that exempting the working group from FACA allows it to operate more efficiently, convene more quickly, and adapt its structure as needed without the bureaucratic hurdles associated with FACA compliance, which is beneficial for addressing rapidly evolving digital asset issues.
Case against: Critics might argue that FACA ensures transparency, public access, and balanced representation in federal advisory bodies. Exempting this group could reduce public oversight and potentially allow for less diverse viewpoints or undue influence from specific industry stakeholders, diminishing public trust in the guidance provided.
Estimated impact: Minimal direct financial impact, but it affects the transparency and operational flexibility of the advisory group, potentially streamlining its work at the cost of public scrutiny.
This provision defines the term 'digital asset' by cross-referencing Section 2 of the GENIUS Act (12 U.S.C. 5901).
Section 2, new Section 49(h) of the Small Business Act
Why it matters:This is standard legislative drafting practice to ensure consistency across federal law and avoid redundant or conflicting definitions. It is not considered evasive.
Case for: Proponents argue that referencing an existing definition ensures legal consistency and avoids creating conflicting interpretations of what constitutes a 'digital asset' across different federal statutes, providing clarity for regulators and businesses alike.
Case against: Critics might argue that relying on an external definition makes the bill less self-contained and harder for a casual reader to fully understand without additional research. Furthermore, if the GENIUS Act's definition changes in the future, it could implicitly alter the scope of this bill without direct amendment, potentially leading to unforeseen consequences.
Estimated impact: Ensures definitional consistency across federal law, which is crucial for regulatory clarity and enforcement, but requires external reference for full comprehension.