Yeah, this just seems like an ill-considered, and subsequently ineffective attempt at applying policies for fiat currency to something whose features are entirely different.

As commented on already - the current swings in the value of cryptocurrency couldn't reasonably be able to be accounted for, by a layperson, offhand anymore than they could quote their stock portfolio's value at any given time. And if the idea here is to thwart efforts at funding terrorism by monitoring the international movement of funds, how on earth is knowing people's current cryptocurrency balance each time they cross the border going to stop any of that from happening (it's not like I'd have a carry-on bag of Ether that I'd buy a plane ticket to smuggle to somebody overseas).

This initiative is nothing more than security theatre, and those lawmakers suggesting it most likely: don't really understand crypto, don't want to be seen doing nothing about its potential threats, can't see the full spectrum of its benefits, but want to be able to say they "have a handle on things".