Requiring Futures Commission merchants to use qualified digital asset custodians
Title II — Registration for digital commodity intermediaries at the Commodity Futures Trading Commission
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Section 4d of the Commodity Exchange Act (7 U.S.C. 6d) is amended— (1) in subsection (a)(2)— (A) in the first proviso, by striking any bank or trust company and inserting any bank, trust company, or qualified digital asset custodian, as applicable,; and (B) by inserting: Provided further, That any such property that is a digital asset shall be held in a qualified digital asset custodian before the period at the end; and (2) in subsection (f)(3)(A)(i), by striking any bank or trust company or with a and inserting any bank, trust company, qualified digital asset custodian, or.