New bill would set federal rules for crypto exchanges and brokers
Placed on the calendarS. 3755Latest action
Sponsor: John Boozman · Senator · AR
AIDecoded by AI · checked against the recordRead the official text
Official title: Digital Commodity Intermediaries Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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S 3755 would require crypto exchanges and brokers to register with the CFTC and use regulated custodians for customer funds.
50-second read · 4 questions answered below
What does this do?
S 3755, the Digital Commodity Intermediaries Act, creates a federal framework for regulating cryptocurrencies through the CFTC, including legal definitions for terms like "digital commodity" and "blockchain." It requires crypto exchanges and brokers/dealers to register with the CFTC and hold customer funds through "qualified digital asset custodians" rather than the trading company itself. Full implementation would take about 18 months, with CFTC and SEC rulemakings needed to fill in details.
Who does it affect?
Crypto exchanges, trading platforms, and brokers/dealers must register with the CFTC and follow new custody, disclosure, and recordkeeping rules. Software developers, decentralized finance protocols, and everyday crypto investors are also affected, along with the CFTC and SEC, which must coordinate on which assets count as commodities versus securities.
Why does it matter?
The bill would change how crypto companies operate, including what coins they can offer and how customer funds are held, with penalties for operating unregistered after set deadlines. It could also affect how fraud and disputes involving crypto are handled going forward.
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Where does it stand?
- IntroducedFeb 2, 2026
- Senate committee
- Senate voteYou are here · Feb 2, 2026
- House
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Placed on Senate Legislative Calendar under General Orders. Calendar No. 312.