#DigitalAssetBill #DigitalAssetBill hy

The Digital Asset Market Structure and Investor Protection Act (H.R.5745) is a U.S. legislative proposal introduced on September 27, 2023. It aims to establish a comprehensive regulatory framework for digital assets and digital asset securities.

Regulatory Authority: Granting the Commodity Futures Trading Commission (CFTC) authority over digital assets and the Securities and Exchange Commission (SEC) authority over digital asset securities.

Bank Secrecy Act Compliance: Subjecting digital assets and digital asset securities to anti-money laundering, reporting, and recordkeeping requirements.

Stablecoins: Designating fiat-based stablecoins as digital assets, requiring registration with the Department of the Treasury.

Investor Protection: Ensuring digital assets and digital asset securities are not covered by Federal Deposit Insurance Corporation or National Credit Union Administration depository insurance.

Anonymizing Services: Mandating the Financial Crimes Enforcement Network to issue rules regarding the use of anonymizing services and other anonymity-enhanced convertible virtual currency services.