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Digital Commodity Consumer Protection: New Rules for Cryptocurrencies.

This act aims to bring digital commodity markets, such as cryptocurrencies (e.g., Bitcoin, Ether), under the oversight of the Commodity Futures Trading Commission (CFTC). This means increased protection for individuals trading digital commodities, by establishing clear rules for platforms, brokers, and dealers, and combating fraud and manipulation. The new regulations are intended to ensure financial security and transparency in transactions, potentially increasing trust in this market.
Key points
Introduction of CFTC oversight for digital commodity markets to enhance transaction security and consumer protection.
Establishment of registration requirements and operational rules for digital commodity platforms, brokers, and dealers, including the obligation to segregate customer funds.
Implementation of anti-fraud and anti-manipulation rules for digital commodity markets, along with requirements for price transparency and information disclosure.
Mandatory customer education and outreach regarding risks associated with digital commodity trading, and examination of market energy consumption.
Preemption of certain state money transmission and virtual currency laws for registered platforms, while preserving state anti-fraud laws.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_8950
Sponsor: Rep. Maloney, Sean Patrick [D-NY-18]
Process start date: 2022-09-22
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Digital Commodities Consumer Protection Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8950.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-09-22.

What are the main provisions?

Key points include:

  • Introduction of CFTC oversight for digital commodity markets to enhance transaction security and consumer protection.
  • Establishment of registration requirements and operational rules for digital commodity platforms, brokers, and dealers, including the obligation to segregate customer funds.
  • Implementation of anti-fraud and anti-manipulation rules for digital commodity markets, along with requirements for price transparency and information disclosure.
  • Mandatory customer education and outreach regarding risks associated with digital commodity trading, and examination of market energy consumption.
  • Preemption of certain state money transmission and virtual currency laws for registered platforms, while preserving state anti-fraud laws.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Maloney, Sean Patrick [D-NY-18].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law