,,ii #aaith ,,congress #ast ,session ,s4 #abbc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,april #a 7legislative day1 ,march #ca71 #bjbe,mr4 ,tuberville 7for himself1 ,mrs4 ,hyde-,smith1 and ,mr4 ,justice7 introduced the following bill2 which was read twice and referred to the ,committee on ,agriculture1 ,nutrition1 and ,forestry ,a ,,bill ,to amend the ,commodity ,exchange ,act to prohibit interference in ,united ,states digital commodity markets by entities organized or established in a foreign adversary1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,prohibiting ,foreign ,adversary ,interference in ,cryptocurrency ,markets ,act4 #b4 ,prohibition on registration of foreign adversary-affiliated digital commodity platforms ,section #d7;b7 of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #f7;b77 is amended by adding at the end the following3 7#c7 ,prohibition on registration of foreign adversary-affiliated digital commodity platforms 7,a7 ,definitions ,in this paragraph3 7i7 ,covered entity ,the term covered entity means-- 7,i7 an entity that is established or organized under the laws of1 or the principal place of business of which is located in1 a foreign adversary2 and 7,,ii7 any subsidiary owned 7in whole or in part7 or operated by an entity described in subclause 7,i74 7ii7 ,digital commodity 7,i7 ,in general ,the term digital commodity means a fungible digital form of personal property that can be possessed and transferred person-to-person without necessary reliance on an intermediary4 7,,ii7 ,inclusions ,the term digital commodity includes property commonly known as cryptocurrency or virtual currency4 7,,iii7 ,exclusions ,the term digital commodity does not include-- 7aa7 an interest in a physical commodity2 7bb7 a security2 7cc7 a digital form of currency backed by the full faith and credit of the ,united ,states2 or 7dd7 any other instrument that the ,commission determines not to be a digital commodity4 7iii7 ,digital commodity broker 7,i7 ,in general ,the term digital commodity broker means a person that is engaged1 as an identifiable business1 in-- 7aa7 soliciting or accepting orders on behalf of another person for a digital commodity trade2 7bb7 accepting digital commodities from another person for the purpose of entering into digital commodity trades2 7cc7 arranging digital commodity trades on behalf of another person2 or 7dd7 a similar activity1 as determined by the ,commission4 7,,ii7 ,exclusion ,the term digital commodity broker does not include a person solely because that person validates digital commodity transactions4 7iv7 ,digital commodity custodian ,the term digital commodity custodian means a person that1 as an identifiable business1 maintains possession1 custody1 or control over digital commodities on behalf of another person4 7v7 ,digital commodity dealer 7,i7 ,in general ,the term digital commodity dealer means a person that-- 7aa7 has an identifiable business of dealing in a digital commodity as principal for its own account2 7bb7 makes a market in a digital commodity2 7cc7 holds itself out as a dealer in a digital commodity2 7dd7 has as an identifiable business of buying or selling digital commodities for conversion into other digital commodities1 currency1 or other consideration2 7ee7 has as an identifiable business of accepting digital commodities from another person 7referred to in this item as a depositor7 with an obligation to return to the depositor the digital commodities1 consideration linked to the digital commodities1 or both2 or 7ff7 engages in a similar activity1 as determined by the ,commission4 7,,ii7 ,exclusion ,the term digital commodity dealer does not include a person solely because that person validates digital commodity transactions4 7vi7 ,digital commodity platform ,the term digital commodity platform means a person that is #a or more of the following3 7,i7 ,a digital commodity broker4 7,,ii7 ,a digital commodity custodian4 7,,iii7 ,a digital commodity dealer4 7,,iv7 ,a digital commodity trading facility4 7vii7 ,digital commodity trade 7,i7 ,in general ,the term digital commodity trade means a purchase or sale of a digital commodity in exchange for-- 7aa7 another digital commodity2 or 7bb7 any other consideration4 7,,ii7 ,inclusions ,the term digital commodity trade includes-- 7aa7 an offer to enter into a purchase or sale described in subclause 7,i72 and 7bb7 a loan of a digital commodity1 an offer to enter into a loan of a digital commodity1 or a similar activity1 as determined by the ,commission4 7viii7 ,digital commodity trading facility 7,i7 ,in general ,the term digital commodity trading facility means a trading facility that facilitates the execution or trading of digital commodity trades between persons4 7,,ii7 ,exclusion ,the term digital commodity trading facility does not include a person solely because that person validates digital commodity transactions4 7ix7 ,foreign adversary ,the term foreign adversary means-- 7,i7 the ,people's ,republic of ,china1 including the ,hong ,kong ,special ,administrative ,region and the ,macao ,special ,administrative ,region2 7,,ii7 the ,republic of ,cuba2 7,,iii7 the ,islamic ,republic of ,iran2 7,,iv7 the ,democratic ,people's ,republic of ,korea2 7,v7 the ,russian ,federation2 and 7,,vi7 the ,bolivarian ,republic of ,venezuela under the regime of ,nicols ,maduro ,moros4 7,b7 ,prohibition on registration ,the ,commission shall not register under this ,act a digital commodity platform that is owned 7in whole or in part7 by a covered entity4 7,c7 ,revocation of registration ,the ,commission shall revoke the registration under this ,act of a digital commodity platform if a covered entity acquires all or any part of the ownership of the digital commodity platform4 4