#USHouseMarketStructureDraft On May 5, 2025, U.S. House Republicans introduced a new draft bill aimed at establishing a comprehensive regulatory framework for digital assets. This initiative, building upon the previous Financial Innovation and Technology for the 21st Century Act (FIT21), seeks to delineate the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing digital assets.

Key Provisions of the Draft Bill:

Regulatory Clarity: The bill proposes clear guidelines to determine whether a digital asset is classified as a security or a commodity, thereby clarifying the jurisdiction between the SEC and CFTC.

Decentralization Criteria: It introduces a framework to assess the decentralization level of blockchain networks, which would influence their regulatory treatment.

Disclosure Requirements: The draft mandates that individuals or entities holding more than 1% of a digital asset's total supply must disclose their holdings, aiming to enhance transparency and prevent