Digital Commodity Intermediaries Act

The Digital Commodity Intermediaries Act (S 3755) establishes a regulatory framework for digital commodity exchanges, brokers, and dealers under the Commodity Futures Trading Commission (CFTC). The bill requires these entities to register with the CFTC, defines key terms like "digital commodity" (excluding certain securities, stablecoins, and collectibles), and sets requirements for qualified digital asset custodians. It establishes customer protection rules including segregation of customer assets, transparency requirements for digital commodities, and recordkeeping standards. The act also creates an Office of the Digital Commodity Retail Advocate to represent retail participants and requires a report on demographic diversity in digital commodity markets. These provisions aim to provide regulatory clarity while protecting market participants in digital asset transactions.