I 

118TH CONGRESS 

2D SESSION H. R. 9579 

To establish the Joint Advisory Committee on Digital Assets, and for other 

purposes. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 12, 2024 

Mr. ROSE introduced the following bill; which was referred to the Committee 

on Financial Services, and in addition to the Committee on Agriculture, 

for a period to be subsequently determined by the Speaker, in each case 

for consideration of such provisions as fall within the jurisdiction of the 

committee concerned 

A BILL 

To establish the Joint Advisory Committee on Digital Assets, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Bridging Regulation 

5 and Innovation for Digital Global and Electronic Digital 

6 Assets Act’’ or the ‘‘BRIDGE Digital Assets Act’’. 


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1 SEC. 2. CFTC-SEC JOINT ADVISORY COMMITTEE ON DIG2 ITAL ASSETS. 

3 (a) ESTABLISHMENT.—The Commodity Futures 

4 Trading Commission and the Securities and Exchange 

5 Commission (in this section referred to as the ‘‘Commis6 sions’’) shall jointly establish the Joint Advisory Com7 mittee on Digital Assets (in this section referred to as the 

8 ‘‘Committee’’). 

9 (b) PURPOSE.— 

10 (1) IN GENERAL.—The Committee shall— 

11 (A) provide the Commissions with advice 

12 on the rules, regulations, and policies of the 

13 Commissions related to digital assets; 

14 (B) further the regulatory harmonization 

15 of digital asset policy between the Commissions; 

16 (C) examine and disseminate methods for 

17 describing, measuring, and quantifying digital 

18 asset— 

19 (i) decentralization; 

20 (ii) functionality; 

21 (iii) information asymmetries; and 

22 (iv) transaction and network security; 

23 and 

24 (D) examine the potential for digital as25 sets, blockchain systems, and distributed ledger 

26 technology to improve efficiency in the operVerDate Sep 11 2014 01:17 Sep 18, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H9579.IH H9579

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1 ation of financial market infrastructure and 

2 better protect financial market participants, in3 cluding services and systems which provide— 

4 (i) improved customer protections; 

5 (ii) public availability of information; 

6 (iii) greater transparency regarding 

7 customer funds; 

8 (iv) reduced transaction cost; and 

9 (v) increased access to financial mar10 ket services. 

11 (2) REVIEW BY AGENCIES.—Each Commission 

12 shall— 

13 (A) review the findings and recommenda14 tions of the Committee; 

15 (B) promptly issue a public statement each 

16 time the Committee submits a finding or rec17 ommendation to a Commission— 

18 (i) assessing the finding or rec19 ommendation of the Committee; 

20 (ii) disclosing the action or decision 

21 not to take action made by the Commis22 sion in response to a finding or rec23 ommendation; and 

24 (iii) explaining the reasons for the ac25 tion or decision not to take action; and 


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1 (C) each time the Committee submits a 

2 finding or recommendation to a Commission, 

3 provide the Committee with a formal response 

4 to the finding or recommendation not later than 

5 3 months after the date of the submission of 

6 the finding or recommendation. 

7 (c) MEMBERSHIP AND LEADERSHIP.— 

8 (1) NON-FEDERAL MEMBERS.— 

9 (A) IN GENERAL.—The Commissions shall 

10 appoint at least 20 nongovernmental stake11 holders who represent a broad spectrum of in12 terests, equally divided between the Commis13 sions, to serve as members of the Committee. 

14 The appointees shall include— 

15 (i) digital asset issuers; 

16 (ii) persons registered with the Com17 missions and engaged in digital asset re18 lated activities; 

19 (iii) individuals engaged in academic 

20 research relating to digital assets; and 

21 (iv) digital asset users. 

22 (B) MEMBERS NOT COMMISSION EMPLOY23 EES.—Members appointed under subparagraph 

24 (A) shall not be deemed to be employees or 


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1 agents of a Commission solely by reason of 

2 membership on the Committee. 

3 (2) CO-DESIGNATED FEDERAL OFFICERS.— 

4 Notwithstanding section 1009 of title 5, United 

5 States Code, the Committee shall have two des6 ignated Federal officers or employees, as described 

7 under such section, with each Commission desig8 nating one officer or employee of the Commission to 

9 serve as a designated Federal officer or employee, 

10 from among individuals who possess an under11 standing of digital assets, blockchain systems, and 

12 financial technology. 

13 (3) COMMITTEE LEADERSHIP.— 

14 (A) COMPOSITION; ELECTION.—The Com15 mittee members shall elect, from among the 

16 Committee members— 

17 (i) a chair; 

18 (ii) a vice chair; 

19 (iii) a secretary; and 

20 (iv) an assistant secretary. 

21 (B) TERM OF OFFICE.—Each member 

22 elected under subparagraph (A) in a 2-year pe23 riod referred to in section 1013(b)(2) of title 5, 

24 United States Code, shall serve in the capacity 


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1 for which the member was so elected, until the 

2 end of the 2-year period. 

3 (d) NO COMPENSATION FOR COMMITTEE MEM4 BERS.—All Committee members shall— 

5 (1) serve without compensation; and 

6 (2) while away from the home or regular place 

7 of business of the member in the performance of 

8 services for the Committee, be allowed travel ex9 penses, including per diem in lieu of subsistence, in 

10 the same manner as persons employed intermittently 

11 in the Government service are allowed expenses 

12 under section 5703(b) of title 5, United States Code. 

13 (e) FREQUENCY OF MEETINGS.—The Committee 

14 shall meet— 

15 (1) not less frequently than twice annually; and 

16 (2) at such other times as either Commission 

17 may request. 

18 (f) DURATION.—Section 1013(a)(2) of title 5, United 

19 States Code, shall not apply to the Committee. 

20 (g) TIME LIMITS.—The Commissions shall— 

21 (1) adopt a joint charter for the Committee 

22 within 90 days after the date of the enactment of 

23 this section; 

24 (2) appoint members to the Committee within 

25 120 days after such date of enactment; and 


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1 (3) hold the initial meeting of the Committee 

2 within 180 days after such date of enactment. 

3 (h) FUNDING.—The Commissions shall jointly fund 

4 the Committee. 

5 (i) DEFINITIONS.—In this section: 

6 (1) BLOCKCHAIN.—The term ‘‘blockchain’’ 

7 means any technology— 

8 (A) where data is— 

9 (i) shared across a network to create 

10 a public ledger of verified transactions or 

11 information among network participants; 

12 (ii) linked using cryptography to 

13 maintain the integrity of the public ledger 

14 and to execute other functions; and 

15 (iii) distributed among network par16 ticipants in an automated fashion to con17 currently update network participants on 

18 the state of the public ledger and any other 

19 functions; and 

20 (B) composed of source code that is pub21 licly available. 

22 (2) DIGITAL ASSET.—The term ‘‘digital asset’’ 

23 means any fungible digital representation of value 

24 that can be exclusively possessed and transferred, 

25 person to person, without necessary reliance on an 


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1 intermediary, and is recorded on a cryptographically 

2 secured public distributed ledger. 

3 (3) DIGITAL ASSET ISSUER.—With respect to a 

4 digital asset, the term ‘‘digital asset issuer’’ means 

5 any person that, in exchange for any consideration— 

6 (A) issues or causes to be issued a unit of 

7 such digital asset to a person; or 

8 (B) offers or sells a right to a future 

9 issuance of a unit of such digital asset to a per10 son. 

Æ 


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