,,ii  #aah? ,,congress  #a/ ,session    
,s4 #ahgj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #g1 #bjbc,mr4    
,tub]ville 7= himself & ,mrs4 ,gillibr&7
 introduc$ ! foll[+ bill2 :i* 0 read    
twice & ref]r$ to ! ,committee on       
,agriculture1 ,nutrition1 & ,=e/ry  ,a  
,,bill  ,to am5d ! ,commodity ,ex*ange  
,act to prohibit int]f]5ce 9 ,unit$     
,/ates digital commodity m>kets by      
entities organiz$ or e/abli%$ 9 a =eign 
adv]s>y1 & = o!r purposes4  #a4 ,%ort   
title ,?is ,act may be cit$ z !         
,prohibit+ ,=eign ,adv]s>y ,int]f]5ce 9 
,cryptocurr5cy ,m>kets ,act4  #b4       
,prohibition on regi/ration ( =eign     
adv]s>y-affiliat$ digital commodity     
plat=ms ,section #d7;b7 ( ! ,commodity  
,ex*ange ,act 7#g ,u4,s4,c4 #f7;b77 is  
am5d$ by add+ at ! end ! foll[+3  7#c7  
,prohibition on regi/ration ( =eign     
adv]s>y-affiliat$ digital commodity     
plat=ms  7,a7 ,def9itions ,9 ?is        
p>agraph3 7i7 ,cov]$ entity ,! t]m cov]$
 entity means-- 7,i7 an entity t is     

e/abli%$ or organiz$ "u ! laws (1 or !  
pr9cipal place ( bus9ess ( :i* is locat$
 91 a =eign adv]s>y2 or  7,,ii7 any     
subsidi>y own$ 79 :ole or 9 "p7 or      
op]at$ by an entity describ$ 9 subclause
 7,i74  7ii7 ,digital commodity  7,i7 ,9
 g5]al ,! t]m digital commodity means a 
fungible digital =m ( p]sonal prop]ty t 
c be possess$ & transf]r$ p]son-to-p]son
 )\t necess>y reliance on an int]m$i>y4 
7,,ii7 ,inclusions ,! t]m digital       
commodity includes prop]ty commonly kn[n
 z cryptocurr5cy or virtual curr5cy4    
7,,iii7 ,exclusions ,! t]m digital      
commodity does n include-- 7aa7 an      
int]e/ 9 a physical commodity2  7bb7 a  
security2  7cc7 a digital =m ( curr5cy  
back$ by ! full fai? & cr$it ( ! ,unit$ 
,/ates2 or  7dd7 any o!r in/rum5t t !   
,commission det]m9es n to be a digital  
commodity4  7iii7 ,digital commodity    
brok]  7,i7 ,9 g5]al ,! t]m digital     
commodity brok] means a p]son t is      
engag$1 z an id5tifiable bus9ess1 9--   
7aa7 solicit+ or accept+ ord]s on behalf

 ( ano!r p]son = a digital commodity    
trade2  7bb7 accept+ digital commodities
 f ano!r p]son = ! purpose ( ent]+ into 
digital commodity trades2  7cc7 arrang+ 
digital commodity trades on behalf (    
ano!r p]son2 or  7dd7 a simil> activity1
 z det]m9$ by ! ,commission4  7,,ii7    
,exclusion ,! t]m digital commodity     
brok] does n include a p]son solely     
because t p]son validates digital       
commodity transactions4  7iv7 ,digital  
commodity cu/odian ,! t]m digital       
commodity cu/odian means a p]son t1 z an
 id5tifiable bus9ess1 ma9ta9s           
possession1 cu/ody1 or control ov]      
digital commodities on behalf ( ano!r   
p]son4  7v7 ,digital commodity deal]    
7,i7 ,9 g5]al ,! t]m digital commodity  
deal] means a p]son t-- 7aa7 has an     
id5tifiable bus9ess ( deal+ 9 a digital 
commodity z pr9cipal = its own acc\nt2  
7bb7 makes a m>ket 9 a digital          
commodity2  7cc7 holds itself out z a   
deal] 9 a digital commodity2  7dd7 has z
 an id5tifiable bus9ess ( buy+ or sell+ 

digital commodities = conv]sion into o!r
 digital commodities1 curr5cy1 or o!r   
consid]ation2  7ee7 has z an id5tifiable
 bus9ess ( accept+ digital commodities f
 ano!r p]son 7ref]r$ to 9 ?is item z a  
depositor7 ) an obligation to return !  
digital commodities1 consid]ation l9k$  
to ! digital commodities1 or bo? to !   
depositor2 or  7ff7 engages 9 a simil>  
activity1 z det]m9$ by ! ,commission4   
7,,ii7 ,exclusion ,! t]m digital        
commodity deal] does n include a p]son  
solely because t p]son validates digital
 commodity transactions4  7vi7 ,digital 
commodity plat=m ,! t]m digital         
commodity plat=m means a p]son t is #a  
or m ( ! foll[+3 7,i7 ,a digital        
commodity brok]4  7,,ii7 ,a digital     
commodity cu/odian4  7,,iii7 ,a digital 
commodity deal]4  7,,iv7 ,a digital     
commodity trad+ facility4  7vii7        
,digital commodity trade  7,i7 ,9 g5]al 
,! t]m digital commodity trade means a  
pur*ase or sale ( a digital commodity 9 
ex*ange =-- 7aa7 ano!r digital          

commodity2 or  7bb7 any o!r             
consid]ation4  7,,ii7 ,inclusions ,! t]m
 digital commodity trade includes-- 7aa7
 an (f] to ent] into a pur*ase or sale  
describ$ 9 subclause 7,i72 &  7bb7 a    
loan ( a digital commodity1 an (f] to   
ent] into a loan ( a digital commodity1 
or a simil> activity1 z det]m9$ by !    
,commission4  7viii7 ,digital commodity 
trad+ facility  7,i7 ,9 g5]al ,! t]m    
digital commodity trad+ facility means a
 trad+ facility t facilitates !         
execution or trad+ ( digital commodity  
trades betwe5 p]sons4  7,,ii7 ,exclusion
 ,! t]m digital commodity trad+ facility
 does n include a p]son solely because t
 p]son validates digital commodity      
transactions4  7ix7 ,=eign adv]s>y ,!   
t]m =eign adv]s>y means-- 7,i7 ! ,p's   
,republic ( ,*9a1 includ+ ! ,hong ,kong 
,special ,adm9i/rative ,region & ,macao 
,special ,adm9i/rative ,region2  7,,ii7 
! ,republic ( ,cuba2  7,,iii7 ! ,islamic
 ,republic ( ,iran2  7,,iv7 !           
,democratic ,p's ,republic ( ,korea2    

7,v7 ! ,russian ,f$]ation2 &  7,,vi7 !  
,boliv>ian ,republic ( ,v5ezuela "u !   
regime ( ,nicols ,maduro ,moros4  7,b7  
,prohibition on regi/ration ,!          
,commission %all n regi/] "u ?is ,act a 
digital commodity plat=m t is own$ 79   
:ole or 9 "p7 by a cov]$ entity4  7,c7  
,revocation ( regi/ration ,! ,commission
 %all revoke ! regi/ration "u ?is ,act (
 a digital commodity plat=m if a cov]$  
entity acquires all or any "p ( !       
own]%ip ( ! digital commodity plat=m4  4