,i #aah? ,,congress #b;d ,session ,h4 ,r4 #iegi ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,septemb] #ab1 #bjbd,mr4 ,rose introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ,agriculture1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to e/abli% ! ,jo9t ,advisory ,committee on ,digital ,assets1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,bridg+ ,regulation & ,innovation = ,digital ,global & ,electronic ,digital ,assets ,act or ! ,,bridge ,digital ,assets ,act4 #b4 ,,cftc-,,sec ,jo9t ,advisory ,committee on ,digital ,assets 7a7 ,e/abli%m5t ,! ,commodity ,futures ,trad+ ,commission & ! ,securities & ,ex*ange ,commission 79 ?is section ref]r$ to z ! ,commissions7 %all jo9tly e/abli% ! ,jo9t ,advisory ,committee on ,digital ,assets 79 ?is section ref]r$ to z ! ,committee74 7b7 ,purpose 7#a7 ,9 g5]al ,! ,committee %all-- 7,a7 provide ! ,commissions ) advice on ! rules1 regulations1 & policies ( ! ,commissions relat$ to digital assets2 7,b7 fur!r ! regulatory h>monization ( digital asset policy betwe5 ! ,commissions2 7,c7 exam9e & dissem9ate me?ods = describ+1 measur+1 & quantify+ digital asset-- 7i7 dec5tralization2 7ii7 functionality2 7iii7 in=mation asymmetries2 & 7iv7 transaction & network security2 & 7,d7 exam9e ! pot5tial = digital assets1 block*a9 sy/ems1 & di/ribut$ l$g] te*nology to improve effici5cy 9 ! op]ation ( f9ancial m>ket infra/ructure & bett] protect f9ancial m>ket p>ticipants1 includ+ s]vices & sy/ems :i* provide-- 7i7 improv$ cu/om] protections2 7ii7 public availability ( in=mation2 7iii7 great] transp>5cy reg>d+ cu/om] funds2 7iv7 r$uc$ transaction co/2 & 7v7 increas$ access to f9ancial m>ket s]vices4 7#b7 ,review by ,ag5cies ,ea* ,commission %all-- 7,a7 review ! f9d+s & recomm5dations ( ! ,committee2 7,b7 promptly issue a public /atem5t ea* "t ! ,committee submits a f9d+ or recomm5dation to a ,commission-- 7i7 assess+ ! f9d+ or recomm5dation ( ! ,committee2 7ii7 disclos+ ! action or decision n to take action made by ! ,commission 9 response to a f9d+ or recomm5dation2 & 7iii7 expla9+ ! reasons = ! action or decision n to take action2 & 7,c7 ea* "t ! ,committee submits a f9d+ or recomm5dation to a ,commission1 provide ! ,committee ) a =mal response to ! f9d+ or recomm5dation n lat] ?an #c mon?s aft] ! date ( ! submission ( ! f9d+ or recomm5dation4 7c7 ,memb]%ip & lead]%ip 7#a7 ,non-f$]al memb]s 7,a7 ,9 g5]al ,! ,commissions %all appo9t at lea/ #bj nongov]nm5tal /akehold]s :o repres5t a broad spectrum ( int]e/s1 equally divid$ betwe5 ! ,commissions1 to s]ve z memb]s ( ! ,committee4 ,! appo9tees %all include-- 7i7 digital asset issu]s2 7ii7 p]sons regi/]$ ) ! ,commissions & engag$ 9 digital asset relat$ activities2 7iii7 individuals engag$ 9 academic rese>* relat+ to digital assets2 & 7iv7 digital asset us]s4 7,b7 ,memb]s n ,commission employees ,memb]s appo9t$ "u subp>agraph 7,a7 %all n be deem$ to be employees or ag5ts ( a ,commission solely by reason ( memb]%ip on ! ,committee4 7#b7 ,co-designat$ ,f$]al (fic]s ,not)/&+ section #ajji ( title #e1 ,unit$ ,/ates ,code1 ! ,committee %all h two designat$ ,f$]al (fic]s or employees1 z describ$ "u su* section1 ) ea* ,commission designat+ "o (fic] or employee ( ! ,commission to s]ve z a designat$ ,f$]al (fic] or employee1 f among individuals :o possess an und]/&+ ( digital assets1 block*a9 sy/ems1 & f9ancial te*nology4 7#c7 ,committee lead]%ip 7,a7 ,composition2 election ,! ,committee memb]s %all elect1 f among ! ,committee memb]s-- 7i7 a *air2 7ii7 a vice *air2 7iii7 a secret>y2 & 7iv7 an assi/ant secret>y4 7,b7 ,t]m ( (fice ,ea* memb] elect$ "u subp>agraph 7,a7 9 a #b-ye> p]iod ref]r$ to 9 section #ajac7;b77#b7 ( title #e1 ,unit$ ,/ates ,code1 %all s]ve 9 ! capacity = :i* ! memb] 0 s elect$1 until ! end ( ! #b-ye> p]iod4 7d7 ,no comp5sation = ,committee memb]s ,all ,committee memb]s %all-- 7#a7 s]ve )\t comp5sation2 & 7#b7 :ile away f ! home or regul> place ( bus9ess ( ! memb] 9 ! p]=mance ( s]vices = ! ,committee1 be all[$ travel exp5ses1 includ+ p] diem 9 lieu ( subsi/5ce1 9 ! same mann] z p]sons employ$ int]mitt5tly 9 ! ,gov]nm5t s]vice are all[$ exp5ses "u section #egjc7;b7 ( title #e1 ,unit$ ,/ates ,code4 7e7 ,frequ5cy ( meet+s ,! ,committee %all meet-- 7#a7 n less frequ5tly ?an twice annually2 & 7#b7 at su* o!r times z ei!r ,commission may reque/4 7f7 ,duration ,section #ajac7;a77#b7 ( title #e1 ,unit$ ,/ates ,code1 %all n apply to ! ,committee4 7g7 ,"t limits ,! ,commissions %all-- 7#a7 adopt a jo9t *>t] = ! ,committee )9 #ij days aft] ! date ( ! enactm5t ( ?is section2 7#b7 appo9t memb]s to ! ,committee )9 #abj days aft] su* date ( enactm5t2 & 7#c7 hold ! initial meet+ ( ! ,committee )9 #ahj days aft] su* date ( enactm5t4 7h7 ,fund+ ,! ,commissions %all jo9tly fund ! ,committee4 7i7 ,def9itions ,9 ?is section3 7#a7 ,block*a9 ,! t]m block*a9 means any te*nology-- 7,a7 :]e data is-- 7i7 %>$ across a network to create a public l$g] ( v]ifi$ transactions or in=mation among network p>ticipants2 7ii7 l9k$ us+ cryptography to ma9ta9 ! integrity ( ! public l$g] & to execute o!r functions2 & 7iii7 di/ribut$ among network p>ticipants 9 an automat$ fa%ion to concurr5tly update network p>ticipants on ! /ate ( ! public l$g] & any o!r functions2 & 7,b7 compos$ ( s\rce code t is publicly available4 7#b7 ,digital asset ,! t]m digital asset means any fungible digital repres5tation ( value t c be exclusively possess$ & transf]r$1 p]son to p]son1 )\t necess>y reliance on an int]m$i>y1 & is record$ on a cryptographically secur$ public di/ribut$ l$g]4 7#c7 ,digital asset issu] ,) respect to a digital asset1 ! t]m digital asset issu] means any p]son t1 9 ex*ange = any consid]ation-- 7,a7 issues or causes to be issu$ a unit ( su* digital asset to a p]son2 or 7,b7 (f]s or sells a "r to a future issuance ( a unit ( su* digital asset to a p]son4