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#USHouseMarketStructureDraft: A new chapter for cryptocurrencies in the U.S.?
In April 2024, the United States House of Representatives reintroduced the legislative draft known as the US House Market Structure Draft, a key proposal that could transform the regulatory landscape for digital assets and the crypto market in general. This draft represents a serious attempt by Congress to establish clear and consistent rules about which agencies should oversee which types of assets, a topic that has been a source of confusion and uncertainty for years.
What does this draft propose?
The main objective of the Market Structure Draft is to clearly define the competencies between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). In summary:
The SEC would oversee tokens that are considered securities.
The CFTC would have authority over digital assets considered commodities, such as Bitcoin.
Additionally, federal registrations for exchanges, brokers, and crypto custodians are proposed, thus granting greater legitimacy and security to the market. There are also provisions that facilitate the creation of decentralized networks without automatically being classified as securities issuers.
Why does it matter?
This draft could be a turning point. For years, crypto companies have faced sanctions or restrictions for not knowing whether a token was a security or a commodity. This lack of clarity has forced many to migrate outside the U.S. in search of more friendly regulatory environments. If this bill is approved, it could attract these companies back to the U.S. market and strengthen the country's position as a leader in financial innovation.
Critiques and Challenges
Not everyone agrees. Some legislators and experts fear that this structure would give too much power to certain entities or weaken consumer protection. Additionally, it remains to be seen how it will be received by the Senate and if it can advance in such a polarized election year.
Conclusion
The #USHouseMarketStructureDraft is not only a technical proposal but also a political signal: the United States wants to catch up with the evolution of the crypto ecosystem. As markets react and institutions position themselves, investors and users must stay alert. This could be the precursor to a new cycle for cryptocurrencies in U.S. territory.
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