Sec. 210. Resources for implementation
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The Commodity Exchange Act is amended by inserting after section 8d ( 7 U.S.C. 12d ) the following: The Commission shall, in accordance with this subsection, assess and collect fees from registered digital commodity brokers, digital commodity dealers, digital commodity exchanges, and qualified digital asset custodians— on the filing of the initial application for registration; and on an annual basis thereafter. The fees under paragraph
(1)shall be used to recover the annual costs of— registering digital commodity exchanges, digital commodity brokers, digital commodity dealers, and qualified digital asset custodians; conducting oversight of digital commodity exchanges, digital commodity brokers, digital commodity dealers, qualified digital asset custodians, and digital commodity transactions; carrying out education and outreach under subsection (b); and carrying out such other activities as are required by the Digital Commodity Intermediaries Act and the amendments made by that Act. In determining fee rates under paragraph (1), the Commission shall consider— the volume of business of the digital commodity exchange, digital commodity broker, digital commodity dealer, or qualified digital asset custodian; and the registration category of the digital commodity exchange, digital commodity broker, digital commodity dealer, or qualified digital asset custodian. The Commission shall not require a digital commodity exchange, digital commodity broker, digital commodity dealer, or qualified digital asset custodian to collect directly from customers a transaction-based fee for each digital commodity transaction. Not later than 30 days after the date of enactment of this section, the Commission shall publish the fee rates determined pursuant to this subsection for the fiscal year in which this section is enacted. Not later than 60 days after the date of enactment of an Act making a regular appropriation to the Commission for a fiscal year, the Commission shall publish in the Federal Register a notice of— the fee rates determined pursuant to this subsection for that fiscal year; and any estimates or projections on which those fee rates are based. In carrying out this subsection, the Commission shall not be required to comply with section 553 of title 5, United States Code. A fee rate prescribed under this subsection shall not be subject to judicial review. Fees collected pursuant to this subsection for any fiscal year shall be deposited and credited as offsetting collections to the account providing appropriations to the Commission. For each fiscal year, the Commission shall, by order, determine fee rates pursuant to this subsection that are reasonably likely to produce aggregate fee collections that are equal to the annual appropriation to the Commission by Congress for the activities described in paragraph (2). If, on the first day of a fiscal year, a regular appropriation to the Commission has not been enacted, the Commission shall continue to collect (as offsetting collections) fees pursuant to this subsection at each of the rates in effect during the preceding fiscal year. The Commissions shall itemize in each budget submitted to the President or the Office of Management and Budget the estimated annual costs of— registering digital commodity exchanges, digital commodity brokers, digital commodity dealers, and qualified digital asset custodians; conducting oversight of digital commodity exchanges, digital commodity brokers, digital commodity dealers, qualified digital asset custodians, and digital commodity transactions; carrying out education and outreach under subsection (b); and carrying out such other activities as are required by the Digital Commodity Intermediaries Act and the amendments made by that Act. Fees may only be assessed and imposed pursuant to this subsection on digital commodity exchanges, digital commodity brokers, digital commodity dealers, and qualified digital asset custodians regulated by the Commission pursuant to the Digital Commodity Intermediaries Act and the amendments made by that Act. Fees authorized under this subsection are prohibited from funding any Commission activity not directly related to the activities described in paragraph (2). The Commission shall provide education and outreach to customers participating in digital commodity markets. There is authorized to be appropriated to carry out the Digital Commodity Intermediaries Act and the amendments made by that Act $150,000,000, to remain available until expended, until the Commission has established and is collecting registration fees pursuant to subsection (a). The Chairman of the Commission may appoint individuals to a position described in paragraph (2)— in accordance with the statutes, rules, and regulations governing appointments to positions in the excepted service (as defined in section 2103 of title 5, United States Code); and without regard to any statute, rule, or regulation governing appointments to positions in the competitive service (as defined in section 2102 of such title). A position referred to in paragraph
(1)is a position at the Commission that— is in the competitive service (as defined in section 2102 of title 5, United States Code); and requires specialized knowledge of digital commodities markets, financial and capital market formation or regulation, financial market structures or surveillance, data collection or analysis, or information technology, cybersecurity, or system safeguards. The appointment of a candidate to a position under this subsection shall not be considered to cause the position to be converted from the competitive service (as defined in section 2102 of title 5, United States Code) to the excepted service (as defined in section 2103 of such title). .
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Sec. 210
Resources for implementation
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