Adds a new section titled '24 Office of the Digital Commodity Retail Advocate' to the Commodity Exchange Act (7 U.S.C. 1 et seq.), establishing the Office and related authorities and duties.

Amends section 4k of the Commodity Exchange Act by adding a new paragraph (7) establishing registration requirements and duties for associated persons of digital commodity brokers and digital commodity dealers, and by modifying the first sentence of section 4k(4) to add references to associated persons 'of a digital commodity broker, or of a digital commodity dealer'.

Adds a new section 4u to the Commodity Exchange Act establishing registration and regulation of digital commodity brokers and digital commodity dealers, including: a registration requirement; limited exemptions (de minimis activity, serving only customers in a single State or territory, registration as a futures commission merchant with notice requirements); rules to avoid duplicative or conflicting obligations for entities registered under more than one section; membership requirement in a registered futures association; application and continual reporting requirements; capital requirements; execution, reporting, recordkeeping, and daily trading record requirements; segregation and permitted investments for customer assets; treatment of customer property in bankruptcy and related classifications; portfolio margining provisions; federal preemption for activities subject to the Act; and authority for the Commission to grant exemptions and issue implementing regulations.

Adds a new section 4v 'Application to software developers' to the Commodity Exchange Act providing that, notwithstanding other provisions of the Act (with a specific exception for the Commission's anti-fraud/anti-manipulation/false reporting authorities), certain software-developer and incidental node/oracle/validation/network services activities will not subject a person to the Act or its regulations.

Amends section 22 (private rights of action) to expand covered actionable transactions and related language to include 'digital commodity transaction' alongside contracts, swaps, and commodities in the enumerated provisions governing private rights of action.

Amends section 20(a) of the Commodity Exchange Act by adding a new paragraph (6) clarifying that, subject to unavoidable security interests or contractual offsets/netting rights, cash, securities, or other property of the estate of a commodity broker (including trading or operating accounts and commodities held in inventory) shall be included in customer property, but only to the extent otherwise customer property is insufficient to satisfy net equity claims of public customers.

Adds a savings clause to 2(a)(1); modifies subsection 2(c)(1) to add a new subparagraph (H) defining permitted payment stablecoins; amends subsection 2(c)(2) to add rules and limitations specific to digital commodity transactions (including exclusive jurisdiction language, exclusions, treatment of permitted payment stablecoins, and new retail/ further rulemaking provisions); and adds a new subsection (k) treating certain secondary market network tokens and certified ancillary assets as digital commodities for offer/sale purposes.

Amends paragraph (15) of section 1a by striking the second sentence of that paragraph (as previously amended/redesignated by earlier Acts).

Amends section 4d (7 U.S.C. 6d) to add 'qualified digital asset custodian' to the list of permissible custodians referenced in subsection (a)(2) and to subsection (f)(3)(A)(i), allowing futures commission merchant customer funds/property to be commingled or deposited with a qualified digital asset custodian where applicable.

Amends section 5c (7 U.S.C. 7a–2) to add references to section 5i(c), to modify certification/approval procedures for contracts based on or referencing digital commodities, and to add a new subsection (d) establishing a certification regime for listing/ offering digital commodities in cash/spot markets (including certification contents, modification/recertification, disapproval procedures, public findings, review timelines, extension rules, and prior-approval procedures with a 90-business-day final-action deadline).