Bill > HR4763

This bill, the Financial Innovation and Technology for the 21st Century Act, seeks to establish a regulatory framework for digital assets and digital asset intermediaries under the jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Key provisions include: - Defining key terms like "digital asset," "digital commodity," "digital asset broker/dealer," and "digital asset trading system" to clarify regulatory oversight. - Allowing for certain exempted transactions in digital assets and establishing disclosure requirements for issuers. - Requiring registration and imposing regulatory requirements for digital asset brokers, dealers, and trading systems under SEC jurisdiction, as well as digital commodity exchanges, brokers, and dealers under CFTC jurisdiction. - Providing guidance on the treatment of "permitted payment stablecoins" and "restricted digital assets" by SEC-regulated entities. - Codifying the SEC's Strategic Hub for Innovation and Financial Technology (FinHub) and the CFTC's LabCFTC to support the development of financial technology. - Establishing a joint CFTC-SEC advisory committee to provide advice on digital asset regulation and policy. The bill aims to foster responsible innovation in digital assets and financial technology while putting in place appropriate safeguards for investors, consumers, and the financial system.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/house-bill/4763/all-info