Digital Commodity Intermediaries Act

This bill would give the Commodity Futures Trading Commission (CFTC) authority to regulate cash or spot markets for digital commodities, such as certain cryptocurrencies that are not securities. It would require digital commodity exchanges, brokers, and dealers to register with the CFTC through an expedited process, and until they register, to tell customers they are not registered with or regulated by the CFTC. It defines terms such as digital commodity, meme coin, and decentralized finance, and excludes items like securities, permitted payment stablecoins, bank deposits, and collectibles. It requires futures commission merchants to hold customer digital assets with qualified custodians and directs the CFTC to write rules on conflicts of interest, leverage, and listing digital commodities for trading.

Full text and official record on Congress.gov

Sponsors

• John Boozman Republican sponsor
• 6 cosponsors