Sec. 410. Offsetting the costs of digital asset regulation
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/bill/117/s/4356/is/section-410·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Commodity Exchange Act ( 7 U.S.C. 1 et seq. ) is amended by adding at the end the following: Effective beginning October 1, 2023, the Commission may, by rule, collect fees— to fund expenses relating to regulation of digital asset cash and spot markets; and that are designed to recover the costs to the Federal Government of the annual appropriation to the Commission by Congress. Fees under paragraph
(1)shall only be imposed— on registered entities engaged in cash or spot digital asset activities; and in relation to the regulation of those activities under this Act. Fees under paragraph
(1)shall— be strictly related to the cost to the Commission of the regulation of digital asset cash and spot markets; be reduced for newly registered entities with less than $100,000,000 in daily trading volume; and minimize negative impacts on market liquidity; and maintain the efficiency, competitiveness, and financial integrity of digital asset markets. The Commission shall collect fees under this subsection in such manner and within such time as may be specified by the Commission by rule. Not later than 60 days after the date on which a law providing a regular appropriation to the Commission for a fiscal year is enacted, the Commission shall adopt an order setting rates for fees to be collected under subsection
(a)for that fiscal year. The Commission shall publish in the Federal Register the order adopted under paragraph (1), including— projections on which the fees are based; and an explanation of the method used for calculating applicable fee rates. Fees collected under subsection
(a)for any fiscal year— shall be deposited and credited as offsetting collections to the account providing appropriations to the Commission; and shall not be collected or available for obligation for any fiscal year except to the extent provided in advance in appropriation Acts. No fees collected under subsection
(a)shall be deposited and credited as general revenue of the Treasury. If a regular appropriation to the Commission has not been enacted on the first day of a fiscal year, the Commission shall continue to collect fees under this section at the rates in effect on September 30 of the preceding fiscal year. Nothing in this section authorizes the imposition of fees on a registered entity relating to leveraged, margined, or financed transactions under this Act, including those activities relating to digital assets. Notwithstanding any other provision of law, the Commission may use appropriations otherwise made available by law to fund expenses relating to the regulation of digital asset cash and spot markets. Unless otherwise provided by law, fees collected under this section shall not exceed $30,000,000. The authority under this section to impose and collect fees shall only be in effect during a period that a legislative authorization of the Commission is in effect, as otherwise provided by law. .
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Sec. 410
Offsetting the costs of digital asset regulation
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