Top Summary
SEC. 314 requires registered entities facilitating digital commodity trading to provide clear and accessible educational materials to the public, covering blockchain technology, risks of digital commodities, differences between digital and traditional financial markets, reporting requirements, and guidance on identifying and reporting fraud.
Original Bill Text:
SEC. 314.Educational material requirements.
The Securities and Exchange Commission, in consultation with the Commodity Futures Trading Commission, shall require any registered entity that facilitates the trading of digital commodities or investment contracts involving units of a digital commodity to provide clear and accessible educational materials to the public, including—
(1) an overview of how blockchain technology functions;
(2) a description of common risks associated with digital commodities;
(3) a description of the differences between digital commodity markets and traditional financial markets;
(4) information on reporting requirements related to digital commodity transactions or investment contracts involving units of a digital commodity; and
(5) guidance on recognizing fraudulent schemes and instructions for reporting suspected fraud.