How to Contribute

Senate bill S4760-117

Banking, Housing, and Urban Affairs Committee

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.

• Last activity on Sep 15, 2022

• Introduced Aug 03, 2022

• By Sen. Stabenow, Debbie [D-MI]

Support this bill

Main Subject: Finance and financial sector

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.

HR8730-117, HR8950-117,

Categories

Banking and financial institutions regulation Commodities markets Commodity Futures Trading Commission Computers and information technology Consumer affairs Currency Digital media Finance and financial sector

Senate Actions

Committee
Sep. 15 2022	Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee on Agriculture, Nutrition, and Forestry. Hearings held.

IntroReferral
Aug. 03 2022	Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Library of Congress Actions

IntroReferral
Aug. 03 2022	Introduced in Senate

Similar Bills

House bill : HR7003-117

Image by Aditya Vyas

Photo by Aditya Vyas on Unsplash

Expanding Financial Access for Underserved Communities Act

Banking and financial institutions regulation Economic development +1 more

Last activity Jan 13, 2024

House bill : HR2516-117

Image by Aditya Vyas

Photo by Aditya Vyas on Unsplash

Promoting Diversity and Inclusion in Banking Act of 2021

Banking and financial institutions regulation Minority employment +2 more

Last activity Jan 16, 2024

House bill : HR7195-117

Image by Aditya Vyas

Photo by Aditya Vyas on Unsplash

To provide for certain whistleblower incentives and protections.

Employment discrimination and employee rights Evidence and witnesses +11 more

Last activity Jan 16, 2024