#USHouseMarketStructureDraft The US House Market Structure Draft, also known as the Digital Asset Market Structure Discussion Draft, aims to establish a regulatory framework for digital assets in the United States. Here's what you need to know ¹ ²:
- *Key Provisions:*
- *SEC and CFTC Roles*: The Securities and Exchange Commission (SEC) will regulate digital assets considered investment contracts, while the Commodity Futures Trading Commission (CFTC) will oversee digital commodities and their spot markets.
- *Decentralization Test*: A project is considered decentralized if no single party has unilateral control, and any party holding more than 10% of the token supply must disclose.
- *Investor Access*: The draft removes wealth and income restrictions for retail investors, allowing broader access to digital asset markets.
- *Disclosure Requirements*: Digital asset developers must disclose token holdings above 1% of the total supply.
- *Impact on Crypto Industry:*
- *Regulatory Clarity*: The draft provides much-needed regulatory clarity for the digital asset ecosystem, protecting consumers and safeguarding market integrity.
- *Innovation*: The framework aims to advance innovation in the US, modernize financial infrastructure, and reinforce US dollar dominance.
- *Democratization*: The bill may curb the influence of big crypto firms, promoting more participation in the broader market.
- *Next Steps:*
- *Joint Hearing*: A joint hearing titled "American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century" is scheduled to discuss the draft.
- *Public Feedback*: The draft is open for public comment, and lawmakers will refine and advance the bill based on feedback ².