Overview
- The bipartisan discussion draft released Nov. 10 by Sens. John Boozman and Cory Booker defines digital commodities and gives the CFTC primary spot‑market authority.
- The proposal lays out market‑integrity and consumer‑protection standards, including fund segregation and disclosures, and would create a Digital Commodity Retail Office at the CFTC.
- Industry leaders and analysts describe the plan as a consequential bridge to traditional finance, and the White House says President Donald Trump backs the overhaul.
- Key sections remain bracketed for negotiation and Senate Banking Committee talks continue on securities‑related pieces, leaving timing for a markup uncertain.
- The text directs CFTC–SEC coordination, provides a new CFTC funding stream with staffing commitments, and includes protections for developers and infrastructure providers.