Bill > S5030

This bill, the Digital Trading Clarity Act of 2022, provides a safe harbor from certain enforcement actions by the Securities and Exchange Commission (SEC) for digital asset intermediaries, such as centralized trading platforms, that meet certain requirements. Key provisions include: defining "digital asset" and "intermediary"; establishing a process for intermediaries to determine whether a digital asset is a security; requiring intermediaries to implement security controls, customer protection measures, and disclosure requirements; allowing an intermediary a compliance period of 2 years if the SEC determines the digital asset is a security, during which the intermediary is protected from enforcement actions; and retroactively protecting intermediaries from past enforcement actions if the SEC later determines a digital asset is not a security.

Housing and Urban Affairs

https://www.congress.gov/bill/117th-congress/senate-bill/5030/all-info