Digital Commodity Intermediaries Act

This bill gives the Commodity Futures Trading Commission (CFTC) authority over cash or spot trading of digital commodities, such as certain crypto tokens, and defines terms like digital asset, digital commodity, broker, dealer, and exchange. It requires digital commodity exchanges, brokers, and dealers to register with the CFTC through an expedited process, with a provisional status and fees until final rules take effect. Before registering, these businesses must tell customers they are not registered with or regulated by the CFTC. The bill directs the CFTC, alone or jointly with the Securities and Exchange Commission, to write rules on conflicts of interest, delisting, portfolio margining, and leverage, and requires futures commission merchants to hold customer digital assets with qualified custodians. Exchanges must certify to the CFTC that a digital commodity meets legal requirements before listing it for trading.

Full text and official record on Congress.gov

Sponsors

• John Boozman Republican sponsor
• 0 cosponsors