#USHouseMarketStructureDraft The US House of Representatives is actively working on draft legislation to establish a clear market structure for digital assets. A new draft discussion document was released **yesterday, May 5, 2025**, backed by key House committee chairs, including French Hill and G.T. Thompson.

The aim is to provide regulatory clarity, protect consumers, and ensure the US remains a leader in financial innovation. This draft builds upon previous efforts, like the FIT21 bill, seeking to define which digital assets fall under the purview of the SEC as securities and which are commodities overseen by the CFTC.

A key aspect involves a decentralization test to determine regulatory authority. The House Financial Services Committee and the Agriculture Committee are holding a joint hearing **today, May 6, 2025**, to discuss this blueprint for the future of digital assets in the US. The draft is open for public feedback before being formally introduced.