3.0.0 8950 2023-09-01T15:15:20Z 2023-09-05T17:28:05Z House HR 2022-09-22 117 [Congressional Record Volume 168, Number 153 (Thursday, September 22, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SEAN PATRICK MALONEY of New York:H.R. 8950.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H8114]]]> hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2022-10-28T21:36:32Z Referred to 2022-09-22T13:02:05Z Digital Commodities Consumer Protection Act of 2022 117 8730 HR 2022-11-01 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. Related bill CRS Digital Commodities Consumer Protection Act of 2022 117 4760 S 2022-09-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS 2022-10-28 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Committee 2022-09-22 Referred to the House Committee on Agriculture. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2022-09-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-09-22 Introduced in House IntroReferral 1000 9 Library of Congress M001185 Rep. Maloney, Sean Patrick [D-NY-18] Sean Maloney D NY Patrick 18 N P000610 Del. Plaskett, Stacey E. [D-VI-At Large] Stacey Plaskett D VI E. 0 2022-09-22 True Finance and Financial Sector Banking and financial institutions regulation Commodities markets Commodity Futures Trading Commission Computers and information technology Consumer affairs Currency Digital media Finance and Financial Sector 00 2022-09-22 Introduced in House 2022-12-20T15:28:37Z Digital Commodities Consumer Protection Act of 2022

This bill grants exclusive jurisdiction to the Commodity Futures Trading Commission over activity involving digital commodities as specified by the bill.

The bill defines digital commodities as fungible digital forms of personal property that can be transferred person-to-person without an intermediary. Excluded from this definition are securities, interests in physical commodities, and U.S.-backed digital currencies. The commission does not have jurisdiction over digital commodities used solely for the purchase or sale of a good or service.

Digital commodity platforms (including brokers, custodians, dealers, and trading facilities) must register with the commission and comply with risk management and good governance procedures. The bill also sets forth recordkeeping requirements, conflict of interest standards, and other consumer protections.

]]> Digital Commodities Consumer Protection Act of 2022 Display Title Digital Commodities Consumer Protection Act of 2022 Short Title(s) as Introduced Digital Commodities Consumer Protection Act of 2022 Introduced in House IH Official Title as Introduced To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission jurisdiction to oversee the spot digital commodity market, and for other purposes. Introduced in House IH Introduced in House 2022-09-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr8950ih/xml/BILLS-117hr8950ih.xml 2022-10-28 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.