Sec. 409. Exclusion for ancillary activities
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/bill/118/hr/4763/rh/section-409A 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. ), 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 solely based on the person undertaking any ancillary activities. Subsection
(a)shall not be construed to apply to the anti-fraud, anti-manipulation, or false reporting enforcement authorities of the Commission. In this section, the term ancillary activities means any of the following activities related to the operation of a blockchain system: Compiling network transactions, operating or participating in a 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 a user’s digital commodities or related private keys. .
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Sec. 409
Exclusion for ancillary activities
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