3.0.0 4760 2023-09-01T15:15:20Z 2023-09-05T17:28:05Z Senate S 2022-08-03 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2022-09-15T14:00:08Z ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Hearings by 2022-09-15T14:00:00Z Referred to 2022-08-03T21:07:54Z Digital Commodities Consumer Protection Act of 2022 117 8730 HR 2022-11-01 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. Identical bill CRS Digital Commodities Consumer Protection Act of 2022 117 8950 HR 2022-10-28 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Related bill CRS 2022-09-15 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2022-09-15 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Committee on Agriculture, Nutrition, and Forestry. Hearings held. Committee 2022-08-03 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2022-08-03 Introduced in Senate IntroReferral 10000 9 Library of Congress S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI N B001236 Sen. Boozman, John [R-AR] John Boozman R AR 2022-08-03 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2022-08-03 True T000250 Sen. Thune, John [R-SD] John Thune R SD R. 2022-08-03 True E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2022-08-04 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2022-09-13 False L000570 Sen. Lujan, Ben Ray [D-NM] Ben Lujan D NM R. 2022-09-27 False 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 2022-08-03 Introduced in Senate 2022-12-16T15:06:07Z 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 Senate IS Official Title as Introduced A bill 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 Senate IS Introduced in Senate 2022-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s4760is/xml/BILLS-117s4760is.xml 2022-09-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. 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.