The Digital Commodities Consumer Protection Act (DCCPA) is a proposed United States federal law to regulate the trading of cryptocurrencies and related digital assets. It would place the regulation of crypto assets under the authority of the Commodity Futures Trading Commission, which already regulates the trading of

financial derivatives In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be u ...

in the United States. The proposed law has bipartisan support. Legislators sponsoring the DCCPA include senators

Cory Booker Cory Anthony Booker (born April 27, 1969) is an American politician and attorney who has served as the junior United States senator from New Jersey since 2013. A member of the Democratic Party, Booker is the first African-American U.S. se ...

John Boozman John Nichols Boozman ( ; born December 10, 1950) is an American politician and former optometrist serving as the senior United States senator from Arkansas, a seat he has held since 2011. A member of the Republican Party, he was the U.S. repres ...

Debbie Stabenow Deborah Ann Stabenow ( ; née Greer, born April 29, 1950) is an American politician serving as the senior United States senator from Michigan, a seat she has held since 2001. A member of the Democratic Party, she became the state's first female ...

and

John Thune John Randolph Thune ( ; born January 7, 1961) is an American politician and businessman serving as the senior United States senator from South Dakota, a seat he has held since 2005, and as the Senate minority whip since 2021. A member of the Re ...

. The former FTX CEO

Sam Bankman-Fried Samuel Benjamin Bankman-Fried (born March 6, 1992), also known by the initialism SBF, is an American suspected fraudster, entrepreneur, investor, and former billionaire. Bankman-Fried was the founder and CEO of the cryptocurrency exchange FTX ...

pushed for crypto regulation via the DCCPA by extensively lobbying Congress, which was perceived as being favorable to FTX but harmful to the broader industry, especially its

decentralized finance Decentralized finance (often stylized as DeFi) offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain. DeFi platforms allow people to lend or borrow funds ...

competitors. The collapse of FTX is seen as likely to delay the process of enacting the DCCPA.

References

{{cryptocurrency-stub Consumer protection legislation Proposed laws of the United States