Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act

The bill would amend the Commodity Exchange Act to prohibit the registration of digital commodity platforms—such as cryptocurrency exchanges, brokers, custodians, dealers, or trading facilities—if they are owned in whole or in part by entities organized or established in a foreign adversary, as defined by the bill (including China, Cuba, Iran, North Korea, Russia, and Venezuela under Nicolás Maduro). It would also require the Commodity Futures Trading Commission to revoke the registration of any such platform if a covered foreign adversary entity acquires ownership. The measure targets foreign adversary interference in U.S. digital commodity markets by restricting market access for…

AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.