Digital Commodities Consumer Protection Act of 2022

Summary

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.

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Timeline

1. 19 August 2022

   Introduced

   Referred to the Committee on Agriculture, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 19 August 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 August 2022

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 September 2022

   Referred

   Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

   Source: Committee

5. 1 November 2022

   Referred

   Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 August 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 August 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 August 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 August 2022

  Open at official source

Sponsors

• Rep. Feenstra, Randy [R-IA-4] · R · Sponsor
• Stephanie Bice · R · Sponsor
• · hsju00 · Standing
• · hsag00 · Standing
• · hsba00 · Standing

Related records

• related to → Digital Commodities Consumer Protection Act of 2022
• related to ← Digital Commodities Consumer Protection Act of 2022