📢 U.S. House Unveils Crypto Market Structure Draft: A New Era for Digital Asset Regulation?
On May 5, 2025, senior Republicans from the House Financial Services and Agriculture Committees introduced a draft bill aimed at overhauling the U.S. crypto regulatory framework. This proposal seeks to delineate the jurisdictions of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), offering clearer guidelines for digital asset oversight.
Key Provisions:
Redefining Digital Assets: The bill proposes that many top cryptocurrencies be exempt from SEC oversight, transferring regulatory authority to the CFTC.
Legacy Asset Classification: A mechanism is introduced to determine the legal status of blockchain networks launched prior to the bill's enactment.
Exclusion of Derivatives: Assets functioning as swaps, futures, or derivatives would remain under existing regulations.
However, the draft faces opposition. Rep. Maxine Waters, the leading Democrat on the House Financial Services Committee, has announced plans to block a joint hearing on the bill, citing concerns over the proposed regulatory shifts.
This legislative move comes amid a broader push by the Trump administration to position the U.S. as a global hub for digital assets, attracting firms like Deribit and OKX to consider U.S. operations.
As the crypto industry watches closely, the bill's progression could significantly impact market dynamics and regulatory clarity