HR 3633: Regulation of Digital Commodities
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HR 3633: A Comprehensive Approach to Regulating Digital Commodities

This bill aims to provide a system of regulation for the offer and sale of digital commodities by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Key Provisions:

Establishes the SEC as the primary regulator for securities-related activities involving digital commodities.
Provides the CFTC with authority to regulate commodity-related activities involving digital commodities.
Mandates the development of a national framework for the identification, trading, and clearing of digital commodities.

The bill also aims to improve financial literacy among retail investors regarding digital commodities, promote fair and orderly markets, and enhance the use of blockchain technology in payments.

Improving Financial Literacy:

The bill requires the SEC and CFTC to jointly conduct a study on improving financial literacy among retail digital commodity holders.

The study aims to identify effective methods for disseminating financial literacy materials, improve the timing, content, and format of educational resources, and assess the efficacy of current efforts.

Regulating Tokenized Securities and Derivatives Products

The bill encourages the development of tokenized securities and derivatives products by providing guidance on their creation, issuance, and trading.

Study Requirements:

Assesses whether additional guidance or rules are necessary to facilitate the development of tokenized securities and derivatives products.
Evaluates whether such guidance or rules would foster fair and orderly financial markets, protect investors, and be consistent with the public interest.

Blockchain in Payments

The bill authorizes the Secretary of the Treasury to conduct a study on the potential use of blockchain technology by the domestic private sector to address issues related to fraud in payments, transaction costs, and efficiency in commercial transactions.