; or (VI) digital asset dealer. (ii) Rulemaking The Commission shall prescribe rules for an entity with multiple registrations described under clause (i) to exempt the entity from duplicative, conflicting, or unduly burdensome provisions of this Act and the rules under this Act, to the extent such an exemption would protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. (B) With the Commodity Futures Trading Commission A registered digital asset trading system shall be permitted to maintain a registration with the Commodity Futures Trading Commission as a digital commodity exchange to offer contracts of sale for digital commodities. . 404. Requirements for digital asset trading systems Title I of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ) is amended by inserting after section 6 the following: 6A. Requirements for digital asset trading systems (a) Holding of customer assets (1) Qualified digital asset custodian required A digital asset trading system shall hold customer restricted digital assets with a qualified digital asset custodian described under section 6B. (2) Custody prohibited A digital asset trading system, in its capacity as such, may not hold custody of customer money, assets, or property. (3) Custody in other capacity Nothing in this Act may be construed to prohibit a person registered as a digital asset trading system from holding custody of customer money, assets, or property in any other permitted capacity, including as a digital asset broker, digital asset dealer, or qualified digital asset custodian in compliance with the requirements of this Act. (b) Rulemaking The Commission shall prescribe rules for digital asset trading systems relating to the following: (1) Notice Notice to the Commission of the initial operation of a digital asset trading system or any material change to the operation of the digital asset trading system. (2) Order display The thresholds at which a digital asset trading system is required to display the orders