The text also defines who qualifies as a retail participant: someone who isn't an eligible contract participant, who is active in a spot or cash digital commodity market, and who has completed a digital commodity transaction with a person or entity registered with the CFTC. The practical value the bill would bring isn't a new office that will magically stop freezes or outages, but the statute that creates an internal unit with instructions to collect evidence, look for patterns, and force those patterns into the rulemaking process. A “decentralized finance messaging system” is defined as software that allows a user to create or submit an instruction to a DeFi trading protocol, paired with an exclusion that functions as a control test: the system cannot give anyone other than the user control over user funds or authority to execute the user’s transactions.
Author: Andjela Radmilac
Published at: 2026-01-24 19:45:07
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