A payment stablecoin from a permitted issuer is not a commodity
What the document says“Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) is amended by adding at the end the following: "The term `commodity' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.".”
Subsection (f). The sentence is added to the definition of commodity in section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)). What that Act otherwise covers is not recorded here, because it is not indexed on this site.
What the document actually says“Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) is amended by adding at the end the following: "The term `commodity' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.".”
A coin from a cleared maker is not a commodity. That word is defined in a law on futures trading. This line takes the coin out of it.
A commodity is a good like oil or wheat. Trading in them has its own rule book. This says these coins do not fall under it.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.