#USHouseMarketStructureDraft by #MkfHashmi

The U.S. House's "Digital Asset Market Structure" draft, known as the Financial Innovation and Technology for the 21st Century Act (FIT21), is significant in the crypto world as it proposes a comprehensive regulatory framework for digital assets. It aims to delineate oversight responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) based on factors like decentralization and functionality of blockchain systems. This clarity could foster innovation and provide legal certainty for crypto projects. However, the bill faces criticism for potentially overextending the CFTC's resources and creating regulatory gaps, indicating that while it's a step forward, further refinement is needed.