美国众议院市场结构讨论草案

According to a report by Golden Finance, and disclosed by Forbes reporter Eleanor Terrett, page 49 of the new market structure discussion draft in the House aims to clarify that transactions involving the sale of digital commodities do not constitute securities, as long as the buyer does not gain ownership rights in the issuer's business, profits, or assets. In other words, if you are buying and selling digital commodities in the secondary market, rather than purchasing directly from the issuer, then unless that sale grants you some form of ownership or a claim to the company's profits or assets, it will not automatically trigger U.S. securities law.

Democratic member of the House Financial Services Committee Maxine Waters is trying to obstruct the joint hearing on the cryptocurrency market structure bill scheduled for May 6, and is also preparing to hold a 'shadow hearing' specifically targeting the Trump family and the cryptocurrency industry.

This situation stems from a cryptocurrency regulatory framework draft promoted by Republicans, and Waters wants the bill to include provisions specifically addressing the Trump family's cryptocurrency business, or else she will create disruptions. Republicans argue that legislation should be neutral, while Democrats keep bringing up the Trump family, aiming to slow down friendly legislation for the cryptocurrency industry. It seems that on the issue of cryptocurrency, the two parties have clashed, and it remains to be seen what new developments will arise in the future.

#美国众议院市场结构讨论草案
This draft aims to establish a unified regulatory framework, clarify definitions for digital goods, stablecoins, self-custody rights, and decentralized finance, assign regulatory authority to the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), and set up registration mechanisms for exchanges, brokers, custodians, and others. It emphasizes consumer protection, promotes innovation, fills regulatory gaps, and seeks to consolidate the United States' leadership position in the global digital asset market.

#美国众议院市场结构讨论草案 The House of Representatives has procrastinated for so many years and has only now come up with a regulatory draft! But at least it's a first step — the bill clearly prohibits the Treasury Department and FinCEN bureaucrats from reaching into self-custody wallets! These vampires have been thinking about how to monitor the assets of ordinary people all day, and now they are finally being held back by the law.
But don’t be naive, this broken bill is still far from being implemented! Hearings, squabbling, lobbying, compromises... The bureaucratic assembly line in Washington won't produce results without a few years of turmoil. The #SEC and #CFTC, those two useless agencies, will definitely fight for territory, and research on DeFi and NFTs? Haha, by the time they finish their research, the industry will have already cooled down!

The draft of the "2025 Digital Asset Market Structure Act" from the U.S. House of Representatives aims to establish a unified regulatory framework for cryptocurrency, focusing on three main directions:

1. Regulatory Authority Division: Clarifying the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) over digital commodities (such as Bitcoin), while retaining the authority of the U.S. Securities and Exchange Commission (SEC) over "investment contract" type digital assets, attempting to end the long-standing regulatory conflict between the two agencies.

2. Market Access and Compliance: Requiring cryptocurrency exchanges, brokers, and other entities to register as "digital commodity exchanges" or "alternative trading systems," adhering to capital adequacy, customer asset segregation, anti-manipulation rules, etc., and submitting trading data to the CFTC. The bill also establishes a "decentralized certification" mechanism, allowing eligible projects to be exempt from SEC regulation, promoting the industry's transition towards decentralization.

3. Innovation and Risk Balance: The bill proposes the establishment of an "Innovation and Financial Technology Strategic Center," encouraging the application of blockchain technology while strengthening the asset reserve requirements for stablecoin issuers to prevent systemic risks.

Controversies and Challenges: Democratic lawmakers criticized the bill for undermining SEC functions and demanded the inclusion of review clauses targeting the Trump family's cryptocurrency business, leading to the collapse of the joint hearing on May 6. The industry is concerned that the "decentralized certification" standards may inhibit technological iteration, such as provisions that prohibit projects from modifying their code being seen as obstructing necessary upgrades. If the bill passes, it will reshape the regulatory landscape for digital assets in the U.S., but partisan disagreements and international regulatory competition (such as Hong Kong's new virtual asset regulations) may delay its implementation.
#美国众议院市场结构讨论草案

In the latest market structure draft from the U.S. House of Representatives, the definition that digital goods do not constitute securities under specific conditions has sparked heated discussions. If this regulation is implemented, it is expected to significantly enhance liquidity in the secondary market, as traditional financial institutions may enter the market due to lowered investment thresholds. Additionally, a clear regulatory definition will help market participants clarify compliance boundaries.
However, promoting the development of the secondary market still faces challenges. Market confidence is difficult to restore quickly due to changes in definitions, as previous significant fluctuations in cryptocurrencies and incidents of projects abandoning their commitments have severely damaged investor trust. On the compliance execution level, the judgment of 'specific conditions' can easily lead to disputes and is difficult to adapt to the rapidly evolving innovations in digital assets.

#美国众议院市场结构讨论草案 The U.S. House of Representatives' draft discussion on market structure focuses on the operation and order of financial markets. The draft aims to optimize market structure, enhance market efficiency and fairness. It delves into key issues such as trading mechanisms and market access, striving to address problems such as information asymmetry and high transaction costs in the market.
By regulating the behavior of market participants, the draft hopes to create a more transparent and orderly competitive environment. This is not only relevant to traditional financial institutions but also has guiding significance for emerging financial formats. Its promotion will help improve the market regulation framework, enhance market stability, and promote reasonable capital flow and allocation. In the long run, it will have a significant and far-reaching impact on the financial market landscape of the United States and even globally.

#美国众议院市场结构讨论草案

In May 2025, Republican leaders from the U.S. House Financial Services Committee and the Agriculture Committee introduced a new discussion draft on digital asset market structure, aimed at establishing a clear regulatory framework for the cryptocurrency market. 

This draft inherits the spirit of the previous Financial Innovation and Technology for the 21st Century Act (FIT21) and attempts to address the controversy over whether digital assets qualify as securities since 2017. The draft proposes a set of processes that allow digital assets to be issued and traded without being classified as securities, provided that these assets do not have the features of exchange, futures, or derivatives.  

Additionally, the draft also designs a mechanism to determine the legal status of blockchain networks that were initiated before the law's implementation. Due to the challenges traditional securities laws face in adapting to decentralized technologies, this proposal is viewed as a comprehensive and complex legislative effort that is expected to spark intense debates and revisions in Congress. 

However, key Democratic member of the House Financial Services Committee, Representative Maxine Waters, stated that she would block the draft from a joint hearing with the Agriculture Committee, reflecting that there are still divisions over this bill between the two parties. 

Nevertheless, the introduction of this draft marks an important step for the United States in digital asset regulation, which may have profound implications for the global cryptocurrency market.

#美国众议院市场结构讨论草案

The U.S. House of Representatives has recently moved forward with discussions on a digital asset market structure proposal, attempting to clarify the regulatory jurisdiction of crypto assets and promote a clear division of responsibilities between the SEC and CFTC. If the proposal passes, it is highly likely that most crypto assets will be considered 'digital commodities' and fall under CFTC regulation, providing a more lenient and clear development environment for the industry.

Against the backdrop of Hong Kong, the UAE, and Europe gradually clarifying their Web3 policies, regulatory reform in the U.S. becomes particularly crucial. If successfully advanced, it will boost market confidence, attract more projects to return to the domestic market, and provide U.S. institutions with a clear compliance pathway.

The next phase of the crypto industry will be shaped by the policy framework. It is worth noting for all users following Megadrop and new projects!

5.6 Ethereum Midday Analysis: Looking at the 4-hour chart, the Bollinger Bands are narrowing,

currently in a consolidation phase. Continue to maintain a low long position during the day.

Ethereum Suggestion: 1770-1800 range, target 1870-1920 #美国众议院市场结构讨论草案

When will $ETH Ethereum harden? Brothers, let's chat. #美国众议院市场结构讨论草案

#美国众议院市场结构讨论草案 The U.S. House of Representatives' "Market Structure Discussion Draft" proposes to include digital assets in a dual regulatory framework for securities and commodities. The core content includes: 1) Clarifying the division of responsibilities between the SEC and CFTC, with security tokens under the jurisdiction of the SEC and commodity-like tokens regulated by the CFTC; 2) Requiring trading platforms to register compliantly, strengthening information disclosure and anti-fraud provisions; 3) Setting exemption clauses for certain token issuances. If the draft is passed, it may accelerate the compliance process for exchanges, but stringent custody and operational rules could squeeze the survival space for small and medium platforms. The focus of contention lies in the ambiguity of DeFi regulation and the applicable scope of the definition of "securities," which could ultimately reshape the competitive landscape of the industry and promote compliance-driven leading institutions to dominate the market.

From an overall perspective, the sudden surge in the morning has filled part of the recent continuous downward decline. After the big coin broke through the point of 95,500, the momentum of the short-term has been further weakened, and the signs of recovery are quite obvious in terms of shape. However, the sudden surge is clearly stimulated by the fundamentals, as news about the China-U.S. tax negotiations has provided strong momentum for the price increase.
On the technical front, the indicators on the four-hour and hourly charts are highly unified, diverging upward, and there is still considerable space above in the short term. As the influence of the fundamentals gradually fades, the upward momentum will gradually weaken. After a short period of oscillation and adjustment, there will be an attempt to test the upper pressure level again.

#美国众议院市场结构讨论草案 According to a report by Golden Finance and disclosed by Forbes reporter Eleanor Terrett, Page 49 of the House's new market structure discussion draft aims to clarify that transactions involving the sale of digital goods do not constitute securities as long as they do not grant the buyer ownership rights to the issuer's business, profits, or assets. In other words, if you buy and sell digital goods on the secondary market rather than directly from the issuer, then unless that sale confers some form of ownership or a claim to the company's profits or assets, it will not automatically trigger U.S. securities law.

#美国众议院市场结构讨论草案 According to a report by Golden Finance, as disclosed by Forbes reporter Eleanor Terrett, page 49 of the new market structure discussion draft in the House aims to clarify that transactions involving the sale of digital goods do not constitute securities, as long as the buyer does not obtain ownership rights to the issuer's business, profits, or assets. In other words, if you are buying and selling digital goods on the secondary market rather than purchasing directly from the issuer, then unless that sale grants you some form of ownership or a claim to the company's profits or assets, it will not automatically trigger U.S. securities laws.

The pancake rebound is a short, easily grasp 900 points!

Only what you have pocketed counts as yours; otherwise, it's all just floating clouds.
#美国众议院市场结构讨论草案 $ETH

Big Ones Are Coming 🚀🚀🚀

☕ Released various positive news at midnight:

1. Major Bitcoin reserve bills are being passed in various states in the U.S. (Positive for future market)
2. The U.S. will discuss tariff issues with China (Positive for future market)
3. The U.S. and the U.K. will reach a trade agreement to lower tariffs on automobiles and steel (Positive for economic recovery and national economic growth)
4. Public companies will increase the amount of Bitcoin acquisition from 200 million to 500 million funds

Last night, Ethereum dropped to around 1750 and this morning briefly broke through 1850, while Bitcoin broke through 97700 and then corrected.

Trading advice: You can enter long positions around 1820, observe if it breaks above 1850, and this high point in the early session is the first resistance level for the daily line, so make sure to participate on the pullback.

Today's focus: $BTC $ETH $XRP
#美联储FOMC会议 #美国众议院市场结构讨论草案 #Strategy增持比特币

According to Forbes journalist Eleanor Terrett, page 49 of the House's new market structure discussion draft aims to clarify that transactions involving the sale of digital goods do not constitute securities as long as they do not involve the buyer obtaining ownership interests in the issuer's business, profits, or assets. In other words, if you trade digital goods on the secondary market rather than purchasing directly from the issuer, then unless that sale grants you some form of ownership or a claim to the company's profits or assets, it will not automatically trigger U.S. securities law.

Can BTC continue to rise? What are the resistance and support levels?

Currently very conflicted at $BTC , with both bulls and bears fighting fiercely around $97,000. From the data over the past 6 months, $97,500 and $98,900 are two major resistance levels, holding 309,000 and 198,000 BTC respectively. To break through, it relies on large capital and FOMO emotions to drive it. If it breaks $98,900, the resistance will be somewhat smaller, and $101,100-$105,000 is relatively easier to breach.

On the downside, there are 364,000 BTC stacked between $93,700-$94,700, which is a solid support level, and the average cost for short-term holders is also around $93,500. If it falls below $93,500, it could trigger a selling wave, with the next strong support at $83,000.

Currently, market fluctuations mainly depend on capital flow and sentiment. The Federal Reserve's interest rate meeting and Powell's speech early Thursday morning are key.

A rate cut in May seems unlikely, but whether Powell's speech is dovish or hawkish will directly affect market trends.

#比特币预测 #美国众议院市场结构讨论草案 #币安LaunchpoolSXT