1. Short title This Act may be cited as the Digital Commodity Exchange Act of 2020 . 2. Amendments to the Commodity Exchange Act (a) Definitions Section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ) is amended— (1) in paragraph (40)— (A) in subparagraph (E), by striking and at the end; and (B) by redesignating subparagraph (F) as subparagraph (G) and inserting after subparagraph (E) the following: (F) a digital commodity exchange registered under section 5i; and ; and (2) by adding at the end the following: (52) Digital commodity The term digital commodity means any form of fungible intangible personal property that can be exclusively possessed and transferred person to person without necessary reliance on an intermediary, and which does not represent a financial interest in a company, partnership, or investment vehicle. (53) Digital commodity custodian The term digital commodity custodian means an entity that holds, maintains, or safeguards digital commodities and other assets on behalf of digital commodity market participants. (54) Digital commodity exchange The term digital commodity exchange means a trading facility that lists for trading at least one digital commodity. (55) Digital commodity presale The term digital commodity presale means the delivery of a unit of a digital commodity, or any promise or right to a future unit of a digital commodity, to a participant in a securities offering conducted in compliance with the Securities Act of 1933 before the listing of the digital commodity for trading on a registered digital commodity exchange. . (b) Commission jurisdiction over retail digital commodity transactions Section 2(c)(2) of such Act ( 7 U.S.C. 2(c)(2) ) is amended— (1) in subparagraph (D)(ii)— (A) in subclause (III), in the matter that precedes item (aa), by inserting of a commodity, other than a digital commodity, before that