Creates a federal registration and oversight system for companies that trade or deal in digital commodities, with the Commodity Futures Trading Commission given primary regulatory authority over those markets.

• Requires digital commodity exchanges, brokers, and dealers to register with the Commodity Futures Trading Commission, with expedited registration and provisional status for firms already operating.
• Requires digital commodity exchanges to disclose source code, transaction history, token economics, and material risks, and to hold customer assets in qualified digital asset custodians.
• Excludes securities, permitted payment stablecoins, bank deposits, and certain software developers from the definition of digital commodity or from the Act's requirements.
• Directs the Commission and the Securities and Exchange Commission to write joint rules on portfolio margining, conflicts of interest, and delisting, and sets a 2-year-plus timeline before the Act takes effect.

• Agriculture, Nutrition, and Forestry Committee (Senate)

Finance and Financial Sector