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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Technology, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HE0E86528EBAB426CB98B7F8B2C3042D5: 1. Short title; table of contents This Act may be cited as the Financial Innovation and Technology for the 21st Century Act. The table of contents for this Act...
- Section H50218C708E8E4E50B14D51349A26AC8D: 101. Definitions under the Securities Act of 1933 Section 2(a) of the Securities Act of 1933 (15 U.S.C. 77b(a)) is amended by adding at the end the following:...
- Section HAA46F6BF2AF84838894BB6E8F1C672F3: 102. Definitions under the Securities Exchange Act of 1934 Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended— by redesignating...
- Section HAF27B446B729409193841F78585876DD: 103. Definitions under the Commodity Exchange Act Section 1a of the Commodity Exchange Act (7 U.S.C. 1a) is amended— in paragraph (10)(A)— by redesignating...
- Section HD1E0AB46EB1F451283A255C67A11340C: 104. Definitions under this Act In this Act: The terms digital commodity, digital commodity broker, digital commodity dealer, digital commodity exchange, and...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Technology, Government Operations
Primary Purpose
This bill, 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
ReportedReceived; read twice and referred to the Committee on Banking, …
Reported 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 …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Alternative trading systems, Banks providing digital asset custody, Digital asset brokers and dealers
Digital asset custodians, Digital asset issuers, Digital asset trading platforms, Digital asset trading systems, Digital commodity exchanges face effects in multiple directions
Positive-direction: Alternative trading systems, Banks providing digital asset custody, Digital asset businesses seeking registration, Digital asset clearing agencies, Digital asset industry, Digital asset issuers trading through registered platforms, Digital asset platforms, Digital asset platforms seeking dual registration, Digital commodity platforms, Existing commodity market participants, International digital asset businesses, Stablecoin issuers, Tokenized securities developers
Negative-direction: Digital asset brokers and dealers, Digital asset issuers and major holders, Digital asset issuers on decentralized networks, Digital asset issuers using exemption, Digital asset market participants, Digital commodity brokers and dealers, Digital commodity custodians, Payment stablecoin issuers
CFTC, CFTC and SEC, GAO
CFTC, CFTC and SEC, SEC face effects in multiple directions
Blockchain developers and validators, Blockchain validators and DeFi operators, Blockchain validators and miners
Digital asset customers, Digital asset investors, Digital asset secondary market participants
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
- "secretary_of_treasury"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
a fungible digital representation of value— that can be exclusively possessed and transferred, person to person, without necessary reliance on an intermediary, and is recorded on a cryptographically secured public distributed ledger
a digital asset— that is or is designed to be used as a means of payment or settlement
an agreement, contract, or transaction involving a digital commodity and— a security
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