To provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes.
Sponsors
Legislative Progress
ReportedReported from the Committee on Agriculture with an amendment
Reported from the Committee on Financial Services with an amendment; …
Additional sponsors: Mr. Molinaro, Mr. Cuellar, Mr. Nickel, Mr. Curtis, …
Mr. Thompson of Pennsylvania (for himself, Mr. Hill, Mr. Johnson …
Summary
What This Bill Does
Establishes regulatory framework dividing oversight of digital assets between SEC and CFTC. Defines when crypto tokens are securities versus commodities based on decentralization.
Who Benefits and How
- Crypto industry gains regulatory clarity
- Investors receive consumer protections
- Blockchain developers understand compliance requirements
Who Bears the Burden and How
- SEC and CFTC must implement new digital asset framework
- Crypto exchanges face registration requirements
- Token issuers must determine regulatory status
Key Provisions
- Defines blockchain, decentralized network, digital asset terms
- Divides jurisdiction between SEC and CFTC
- Affiliated person rules for digital assets
- Blockchain protocol and smart contract definitions
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Comprehensive framework for SEC and CFTC regulation of digital assets and cryptocurrency
Policy Domains
Legislative Strategy
"Provide regulatory clarity for crypto through dual-agency framework"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
Key Definitions
Terms defined in this bill
Technology with shared network data, cryptographic linking, and public source code
Blockchain system meeting specific operational criteria
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology