#USHouseMarketStructureDraft

Four House Republicans introduced a draft bill on Monday that would establish a regulatory framework for digital assets in the US.

If passed, crypto assets certified as fully “decentralised” would be classified as commodities and fall under the umbrella of the Commodities Futures Trading Commission. Assets deemed centralised would be regulated by the Securities and Exchange Commission.

“Overall, this bill again would make the CFTC the dominant crypto regulator, but still gives the SEC jurisdiction until a network establishes decentralization,” Justin Slaughter, vice president of regulatory affairs at crypto venture capital firm Paradigm, wrote on X.

Representatives French Hill of Arkansas, G.T. Thompson of Pennsylvania, Bryan Steil of Wisconsin and Dusty Johnson of South Dakota co-authored the discussion draft. Discussion drafts of bills are meant for public comment and have not yet been introduced into the legislative process.