PTO Act

House Bill

H.R. 4763

119th Congress

PTO Act

In Committee

Introduced:Oct 14, 2025

Primary Sponsor

Glenn Thompson

Representative

Republican

PA-15

Cosponsors

11

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill establishes rules for regulating digital assets like cryptocurrencies. It gives the Commodity Futures Trading Commission (CFTC) authority to oversee digital assets that use decentralized blockchains, while the Securities and Exchange Commission (SEC) would regulate digital assets with less decentralized blockchains. The bill also includes exceptions to SEC regulation for some smaller digital assets and sets requirements for digital asset transactions.

Latest Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorGlenn Thompson (R-PA)

Introduced10/14/2025

StatusReferred to the Committee on Education and Workforce, and in addition to the Committees on House Adm

ChamberHouse

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Vote Prediction

PTO Act

This bill establishes rules for regulating digital assets like cryptocurrencies. It gives the Commodity Futures Trading Commission (CFTC) authority to oversee digital assets that use decentralized blockchains, while the Securities and Exchange Commission (SEC)

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill establishes rules for regulating digital assets like cryptocurrencies. It gives the Commodity Futures Trading Commission (CFTC) authority to oversee digital assets that use decentralized blockchains, while the Securities and Exchange Commission (SEC) would regulate digital assets with less decentralized blockchains. The bill also includes exceptions to SEC regulation for some smaller digital assets and sets requirements for digital asset transactions.

Bill Number: 4763
Sponsor: Glenn Thompson (R-PA)
Introduced: 10/14/2025
Status: Referred to the Committee on Education and Workforce, and in addition to the Committees on House Adm
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: PTO Act
Bill Number: 4763
Sponsor: Glenn Thompson (R-PA)
Status: Referred to the Committee on Education and Workforce, and in addition to the Committees on House Adm
Introduced: 10/14/2025
Summary: This bill establishes rules for regulating digital assets like cryptocurrencies. It gives the Commodity Futures Trading Commission (CFTC) authority to oversee digital assets that use decentralized blockchains, while the Securities and Exchange Commission (SEC) would regulate digital assets with less

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill establishes rules for regulating digital assets like cryptocurrencies. It gives the Commodity Futures Trading Commission (CFTC) authority to oversee digital assets that use decentralized blockchains, while the Securities and Exchange Commission (SEC) would regulate digital assets with less decentralized blockchains. The bill also includes exceptions to SEC regulation for some smaller digital assets and sets requirements for digital asset transactions.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Financial Innovation and Technology for the 21st Century Act This bill establishes a regulatory framework for digital assets. The Commodity Futures Trading Commission (CFTC) must regulate a digital asset as a commodity if the blockchain, or digital ledger, on which it runs is functional and decentralized. The bill classifies a blockchain as decentralized if, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset. In addition, the bill provides the CFTC with exclusive regulatory authority over cash or spot markets for digital commodities. The Securities and Exchange Commission (SEC) must regulate a digital asset as a security if its associated blockchain is functional but not decentralized. However, the bill establishes certain exceptions to SEC regulation for digital assets that limit annual sales, restrict nonaccredited investor access, and satisfy disclosure and compliance requirements. The bill also sets forth requirements for primary and secondary market transactions. The CFTC and SEC must jointly issue rules to define terms and exempt dually registered exchanges from duplicative rules. The bill excludes permitted stablecoins from CFTC and SEC regulation, except regarding anti-fraud authority and specified transactions on registered entities.

Key Points

Main provisions of the bill

The CFTC would regulate digital assets using decentralized blockchains, while the SEC would regulate digital assets with less decentralized blockchains
The bill includes exceptions to SEC regulation for some smaller digital assets that limit annual sales, restrict nonaccredited investor access, and meet disclosure requirements
The bill sets requirements for primary and secondary market transactions involving digital assets

How This Impacts Americans

Potential effects on citizens and communities

This bill would impact companies and individuals involved in digital asset markets, including cryptocurrency exchanges, developers, and investors. It would establish clearer regulatory oversight for the digital asset industry, potentially reducing uncertainty and encouraging more investment and innovation in this space.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Administrative law and regulatory procedures

Advanced technology and technological innovations

Commodities markets

Commodity Futures Trading Commission

Computers and information technology

Currency

Digital media

Licensing and registrations

Securities

Securities and Exchange Commission (SEC)

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

4763, 119th Congress (2025). "PTO Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-4763

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