CFTC Draft Digital Goods Consumer Protection Law Would Not Consider Software Developers Brokers

Delphi Labs Legal Director @lex_node tweeted that he has obtained a new draft copy of the Digital Commodity Consumer Protection Act (DCCPA) that the CFTC uses to regulate the industry and has uploaded it to Github. New additions to the bill would explicitly exclude software developers from being counted as digital commodity brokers (classification as such would require specific tax reporting). The draft would also order the CFTC to provide reports on DeFi market size and protocols within 180 days of the bill’s enactment, and order the CFTC to liaise with foreign regulators to ensure U.S. regulatory rules are consistent with international regulations.