#USHouseMarketStructureDraft May 2025): A hashtag #USHouseMarketStructureDraft is trending due to the recent launch, on May 5, 2025, of a cryptocurrency market structure bill by the Financial Services and Agriculture Committees of the U.S. House. The draft proposes to separate jurisdictions between the SEC (securities) and the CFTC (commodities), defining when digital assets, such as $BTC and $ETH, cease to be considered securities. It includes a decentralization test (e.g., non-unilateral control, 10% ownership limit per party) and removes income restrictions for retail investors, expanding access. A hearing is scheduled to discuss the topic, and the text may evolve before a vote, possibly by August, aligned with the White House's plans.

Impact on $BTC : As you mentioned about the engagement with $BTC, this proposal could be positive in the long term.