Looks like things are finally moving again in the U.S. crypto policy space. Lawmakers in the House have just dropped a discussion draft of a new market structure bill aimed at giving crypto the regulatory clarity we've all been waiting for.
This new draft builds on the previous FIT21 bill and focuses heavily on sorting out the confusing overlap between the SEC and CFTC when it comes to regulating digital assets. In simple terms, the goal is to clearly define who oversees what — securities vs. commodities — and stop leaving crypto projects stuck in limbo.
The draft was released by the House Financial Services Committee and the House Agriculture Committee, both of which have a say in crypto matters. According to Rep. French Hill, this is about delivering much-needed clarity, while Rep. Glenn “GT” Thompson said it's the first step toward a framework that both protects users and encourages innovation.
One of the big highlights is how the bill sets requirements for public disclosures from crypto projects. It also lays out pathways for digital asset developers to either raise funds under the SEC or register with the CFTC for trading as digital commodities.
It’s essentially an attempt to draw a line in the sand between the two regulators — something the U.S. crypto scene has needed for a long time. Without clear guidelines, projects have been stuck in regulatory uncertainty, and this bill aims to fix that.
Interestingly, this comes as Congress is also pushing forward on stablecoin legislation — another major front in U.S. crypto policy. While this market structure bill aims to organize the broader ecosystem, the stablecoin bill (dubbed the GENIUS Act) is getting its own spotlight.
Major crypto lobbying groups like the Blockchain Association, Crypto Council for Innovation, and the Digital Chamber are all urging the Senate to stop dragging its feet and push the stablecoin debate forward.
All in all, this draft feels like a solid step toward a more functional and innovation-friendly crypto regulatory environment in the U.S. Let’s see how the Senate responds — and whether the much-needed clarity finally becomes law.
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