; and (iii) the trust company is in good standing with its State bank supervisor. (C) Transition period for certain custodians In implementing the rulemaking under subparagraph (A), the Commission shall provide a transition period of not less than 2 years for any trust company that is deemed subject to adequate supervision and appropriate regulation under subparagraph (B) on the effective date of the rulemaking. (e) Authority to temporarily suspend standards The Commission may, by rule or order, temporarily suspend, in whole or in part, any requirement imposed under, or any standard referred to in, this section if the Commission determines that the suspension would be consistent with the public interest and the purposes of this Act. . 506. Registration and regulation of digital commodity brokers and dealers The Commodity Exchange Act ( 7 U.S.C. 1 et seq. ), as amended by the preceding provisions of this Act, is amended by inserting after section 4t the following: 4u. Registration and regulation of digital commodity brokers and dealers (a) Registration It shall be unlawful for any person to act as a digital commodity broker or digital commodity dealer unless the person is registered as such with the Commission. (b) Requirements (1) In general A person shall register as a digital commodity broker or digital commodity dealer by filing a registration application with the Commission. (2) Contents (A) In general The application shall be made in such form and manner as is prescribed by the Commission, and shall contain such information as the Commission considers necessary concerning the business in which the applicant is or will be engaged. (B) Continual reporting A person that is registered as a digital commodity broker or digital commodity dealer shall continue to submit to the Commission reports that contain such information pertaining to the business of the person as the Commission may require. (3) Statutory disqualification Except to the extent otherwise specifically provided by rule, regulation, or order, it