I 
118TH CONGRESS 
1ST SESSION H. R. 5966 
To amend the Commodity Exchange Act with respect to reporting digital 
commodity transactions. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 17, 2023 
Mr. BEYER introduced the following bill 
OCTOBER 25, 2023 
Referred to the Committee on Agriculture 
A BILL 
To amend the Commodity Exchange Act with respect to 
reporting digital commodity transactions. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Off-Chain Digital 
Commodity Transaction Reporting Act of 2023’’. 
SEC. 2. REPORTING OF SWAPS AND DIGITAL COMMODITY 
TRANSACTIONS. 
Section 2(a)(13) of the Commodity Exchange Act is 
amended— 
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(1) by amending the paragraph heading to read 
as follows: ‘‘REPORTING AND PUBLIC AVAILABILITY 
OF SWAP AND DIGITAL COMMODITY TRANSACTION 
DATA’’; 
(2) in subparagraph (A), by inserting ‘‘or dig-
ital commodity’’ after ‘‘swap’’ both places it appears; 
(3) in subparagraph (B)— 
(A) by inserting ‘‘or digital commodity’’ 
after ‘‘swap’’; and 
(B) by inserting ‘‘and investor protection’’ 
before the period at the end; 
(4) by amending subparagraph (G) to read as 
follows: 
‘‘(G) REPORTING OF SWAPS AND DIGITAL 
COMMODITY
TRANSACTIONS
TO
REGISTERED 
REPOSITORIES.— 
‘‘(i) SWAPS.—Each swap (whether 
cleared or uncleared) shall be reported to 
a registered swap data repository. 
‘‘(ii) DIGITAL
COMMODITIES.—Each 
contract of sale of a digital commodity in 
interstate commerce (whether on-chain or 
off-chain) shall be reported to a registered 
digital asset repository for transactions.’’; 
(5) by adding at the end the following: 
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‘‘(H) REPORTING OF DIGITAL COMMODITY 
TRANSACTIONS.— 
‘‘(i) IN
GENERAL.—With respect to 
contracts of sale of digital commodities in 
interstate commerce that are not executed 
on or through a trading platform, such 
transactions shall be reported by the pur-
chaser in real-time to a registered digital 
asset repository for transactions as soon as 
technologically practicable after execution 
of the transaction. 
‘‘(ii) RULE
FOR
TRADING
PLAT-
FORMS.—Trading platforms which facili-
tate contracts of sale of digital commod-
ities in interstate commerce transactions 
shall be responsible for reporting all such 
transactions to a registered digital asset 
repository of transactions as soon as tech-
nically practicable after the execution of 
each such transaction. 
‘‘(I) ACTUAL DELIVERY OF DIGITAL COM-
MODITY TRANSACTIONS.— 
‘‘(i) IN GENERAL.—In the case of a 
contract of sale of a digital commodity in 
interstate commerce, the seller of such dig-
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ital commodity shall actually deliver the 
digital commodity into the exclusive control 
of the purchaser not less than 24 hours 
after the transaction is executed. 
‘‘(ii) ACTUAL
DELIVERY.—For pur-
poses of clause (i), actual delivery shall 
have occurred only if— 
‘‘(I) the transfer of the digital 
commodity from the seller to the pur-
chaser’s address is recorded on the 
public distributed ledger for the dig-
ital commodity; or 
‘‘(II) with respect to off-chain 
digital commodity transactions on a 
trading platform, the trading platform 
reports the off-chain digital com-
modity transaction, which must be 
held in a customer segregated ac-
count, to a registered digital asset re-
pository of transactions.’’. 
SEC. 3. SWAP DATA REPOSITORIES AND DIGITAL ASSET RE-
POSITORIES OF TRANSACTIONS. 
(a) COMMODITY EXCHANGE ACT.—Section 21 of the 
Commodity Exchange Act (7 U.S.C. 24a) is amended to 
read as follows: 
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reporting 
requirements 
contained 
in 
section 
2(a)(13); 
‘‘(5) at the direction of the Commission, estab-
lish automated systems for monitoring, screening, 
and analyzing swap or digital commodity, digital 
asset, or digital collectible data, including compli-
ance and frequency of end user clearing exemption 
claims by individual and affiliated entities; 
‘‘(6) maintain the privacy of any and all swap 
or digital commodity, digital asset, or digital collect-
ible transaction information that the swap data re-
pository or digital asset repository of transactions, 
respectively, 
receives 
from 
a 
swap 
dealer, 
counterparty, or any other registered entity; 
‘‘(7) on a confidential basis pursuant to section 
8, upon request, and after notifying the Commission 
of the request, make available each swap or digital 
commodity, digital asset, or digital collectible data 
obtained by the swap data repository or digital asset 
repository of transactions, respectively, including in-
dividual counterparty trade and position data, to— 
‘‘(A) each appropriate prudential regulator; 
‘‘(B) the Financial Stability Oversight 
Council; 
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‘‘(C) the Securities and Exchange Commis-
sion; 
‘‘(D) the Department of Justice; and 
‘‘(E) any other person that the Commis-
sion determines to be appropriate, including— 
‘‘(i) foreign financial supervisors (in-
cluding foreign futures authorities); 
‘‘(ii) foreign central banks; 
‘‘(iii) foreign ministries; and 
‘‘(iv) other foreign authorities; and 
‘‘(8) establish and maintain emergency proce-
dures, backup facilities, and a plan for disaster re-
covery that allows timely recovery and resumption of 
operations and the fulfillment of the responsibilities 
and obligations of the organization. 
‘‘(d) CONFIDENTIALITY AGREEMENT.—Before the 
swap data repository or digital asset repository of trans-
actions may share information with any entity described 
in subsection (c)(7), the swap data repository or digital 
asset repository of transactions shall receive a written 
agreement from each entity stating that the entity shall 
abide by the confidentiality requirements described in sec-
tion 12 of this title relating to information on swap or 
digital commodity, digital asset, or digital collectible (as 
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determined a collectible under section 408(m) of the Inter-
nal Revenue Code), respectively, that is provided. 
‘‘(e) DESIGNATION OF CHIEF COMPLIANCE OFFI-
CER.— 
‘‘(1) IN GENERAL.—Each swap data repository 
or digital asset repository of transactions shall des-
ignate an individual to serve as a chief compliance 
officer. 
‘‘(2) DUTIES.—The chief compliance officer 
shall— 
‘‘(A) report directly to the board or to the 
senior officer of the swap data repository or 
digital asset repository of transactions; 
‘‘(B) review the compliance of the swap 
data repository or digital asset repository of 
transactions with respect to requirements and 
core principles described in this section; 
‘‘(C) in consultation with the board of the 
swap data repository or digital asset repository 
of transactions, a body performing a function 
similar to the board of the swap data repository 
or digital asset repository of transactions, or 
senior officer of the swap data repository or 
digital asset repository of transactions resolve 
any conflicts of interest that may arise; 
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‘‘(D) be responsible for administering each 
policy and procedure that is required to be es-
tablished pursuant to this section; 
‘‘(E) ensure compliance with this Act (in-
cluding regulations) relating to agreements, 
contracts, or transactions, including each rule 
prescribed by the Commission under this sec-
tion; 
‘‘(F) establish procedures for the remedi-
ation of noncompliance issues identified by the 
chief compliance officer through any— 
‘‘(i) compliance office review; 
‘‘(ii) look-back; 
‘‘(iii) internal or external audit find-
ing; 
‘‘(iv) self-reported error; or 
‘‘(v) validated complaint; and 
‘‘(G) establish and follow appropriate pro-
cedures for handling, management response, re-
mediation, retesting, and closing of noncompli-
ance issues. 
‘‘(3) ANNUAL REPORTS.— 
‘‘(A) IN
GENERAL.—In accordance with 
rules prescribed by the Commission, the chief 
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compliance officer shall annually prepare and 
sign a report that contains a description of— 
‘‘(i) the compliance of the swap data 
repository or the digital asset repository of 
transactions, as appropriate, of the chief 
compliance office with respect to this Act 
(including regulations); and 
‘‘(ii) each policy and procedure of the 
swap data repository or the digital asset 
repository of transactions, as appropriate, 
of the chief compliance officer (including 
the code of ethics and conflict of interest 
policies of the swap data repository or the 
digital asset repository of transactions, as 
appropriate). 
‘‘(B) REQUIREMENTS.—A compliance re-
port under subparagraph (A) shall— 
‘‘(i) accompany each appropriate fi-
nancial report of the swap data repository 
or digital asset repository of transactions 
that is required to be furnished to the 
Commission pursuant to this section; and 
‘‘(ii) include a certification that, under 
penalty of law, the compliance report is ac-
curate and complete. 
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‘‘(f) CORE PRINCIPLES APPLICABLE TO SWAP DATA 
REPOSITORIES AND DIGITAL ASSET REPOSITORIES OF 
TRANSACTIONS.— 
‘‘(1) 
ANTITRUST
CONSIDERATIONS.—Unless 
necessary or appropriate to achieve the purposes of 
this Act, a swap data repository or digital asset re-
pository of transactions shall not— 
‘‘(A) adopt any rule or take any actions 
that result in any unreasonable restraint of 
trade; or 
‘‘(B) impose any material anticompetitive 
burden on the trading, clearing, or reporting of 
transactions. 
‘‘(2) 
GOVERNANCE
ARRANGEMENTS.—Each 
swap data repository or digital asset repository of 
transactions shall establish governance arrangements 
that are transparent— 
‘‘(A) to fulfill public interest requirements; 
and 
‘‘(B) to support the objectives of the Fed-
eral Government, owners, and participants. 
‘‘(3) CONFLICTS
OF
INTEREST.—Each swap 
data repository or digital asset repository of trans-
actions shall— 
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‘‘(A) establish and enforce rules to mini-
mize conflicts of interest in the decision-making 
process of the swap data repository or the dig-
ital asset repository of transactions; and 
‘‘(B) establish a process for resolving con-
flicts of interest described in subparagraph (A). 
‘‘(4) ADDITIONAL DUTIES DEVELOPED BY THE 
COMMISSION.— 
‘‘(A) IN GENERAL.—The Commission may 
develop 1 or more additional duties applicable 
to swap data repositories or digital asset reposi-
tories of transactions. 
‘‘(B) 
CONSIDERATION
OF
EVOLVING 
STANDARDS.—In developing additional duties 
under subparagraph (A), the Commission may 
take into consideration any evolving standard of 
the United States or the international commu-
nity. 
‘‘(C) ADDITIONAL
DUTIES
FOR
COMMIS-
SION
DESIGNEES.—The Commission shall es-
tablish additional duties for any registered swap 
data repository or digital asset repository of 
transactions in order to minimize conflicts of 
interest, protect data, ensure compliance, and 
guarantee safety and security of the swap data 
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repository or digital asset repository of trans-
actions. 
‘‘(g) REQUIRED REGISTRATION OF SWAP DATA RE-
POSITORIES
AND
DIGITAL
ASSET
REPOSITORIES
OF 
TRANSACTIONS.—Any person that is required to be reg-
istered as a swap data repository or a digital asset reposi-
tory of transactions under this section shall register with 
the Commission regardless of whether that person is also 
licensed as a bank, trust company, money services busi-
ness, or registered with the Securities and Exchange Com-
mission as a security-based swap data repository, broker- 
dealer, qualified custodian, or transfer agent. 
‘‘(h) DUAL SEC AND CFTC REGISTRATION OF DIG-
ITAL ASSET REPOSITORY OF TRANSACTIONS.—Any per-
son that seeks to act as a digital asset repository for trans-
actions for digital commodities, digital assets, digital col-
lectibles (as determined a collectible under section 408(m) 
of the Internal Revenue Code) shall register with the Com-
mission and Securities and Exchange Commission subject 
to joint regulation by such Commissions, but only with re-
spect to the digital commodities and digital assets subject 
to their respective jurisdictions. 
‘‘(i) RULES.—The Commission shall adopt rules gov-
erning persons that are registered under this section.’’. 
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SEC. 4. DEFINITIONS. 
(a) IN GENERAL.—Section 1a of the Commodity Ex-
change Act (7 U.S.C 1a) is amended by adding at the 
end the following: 
‘‘(52) DIGITAL ASSET REPOSITORY OF TRANS-
ACTIONS.—The term ‘digital asset repository of 
transactions’ or ‘DART’ means any person that col-
lects and maintains information or records with re-
spect to transactions or positions in, or the terms 
and conditions of digital commodities, digital assets, 
or digital collectibles (as determined a collectibles 
under section 408(m) of the Internal Revenue Code) 
entered into by third parties for the purpose of pro-
viding a centralized recordkeeping facility for digital 
commodities, digital assets, or digital collectibles. 
‘‘(53) OFF-CHAIN DIGITAL COMMODITY TRANS-
ACTION.—The term ‘off-chain digital commodity 
transaction’ means any contract of sale of a digital 
commodity in interstate commerce which is not 
mined or validated and recorded on the appropriate 
public distributed ledger for such digital commodity 
within 24 hours of the transaction being entered 
into.’’. 
(b) DEFINITION OF REGISTERED ENTITY.—Section 
1a(40)(E) of the Commodity Exchange Act (7 U.S.C. 
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1a(40)(E)) is amended by inserting ‘‘or a digital asset re-
pository of transactions’’ after ‘‘section 21’’. 
Æ 
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