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Code · BILL · 118th Congress · H.R. 4763 (Referred in Senate) — To provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securitie... · Sec. 509

Sec. 509. Exclusion for decentralized finance activities

261 words·~1 min read·/bill/118/hr/4763/rfs/section-509·

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The Commodity Exchange Act ( 7 U.S.C. 1 et seq. ), as amended by the preceding provisions of this Act, is amended by inserting after section 4u the following: Notwithstanding any other provision of this Act, a person shall not be subject to this Act and the regulations promulgated under this Act based on the person directly or indirectly engaging in any of the following activities, whether singly or in combination, in relation to the operation of a blockchain system or in relation to decentralized finance (as defined in section 605(d) of the Financial Innovation and Technology for the 21st Century Act):
Compiling network transactions, operating or participating in a liquidity pool, relaying, searching, sequencing, validating, or acting in a similar capacity with respect to contract of sale of a digital asset. Providing computational work, operating a node, or procuring, offering, or utilizing network bandwidth, or other similar incidental services with respect to a contract of sale of a digital asset. Providing a user-interface that enables a user to read, and access data about a blockchain system, send messages, or otherwise interact with a blockchain system.
Developing, publishing, constituting, administering, maintaining, or otherwise distributing a blockchain system. Developing, publishing, constituting, administering, maintaining, or otherwise distributing software or systems that create or deploy hardware or software, including wallets or other systems, facilitating an individual user’s own personal ability to keep, safeguard, or custody the user’s digital commodities or related private keys. Subsection
(a)shall not be interpreted to apply to the anti-fraud, anti-manipulation, or false reporting enforcement authorities of the Commission. .
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Sec. 509
Exclusion for decentralized finance activities
U.S.C.§ 1
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