#USHouseMarketStructureDraft New U.S. House Draft Clarifies Digital Commodity Transactions and Market Structure

A newly released draft from theU.S.House of Representatives is drawing attention for its significant clarification regarding the regulatory treatment of digital commodities. According to a report by Odaily and Forbes journalist Eleanor Terrett, the discussion draft seeks to better define the line between digital commodities and securities, which has long been a point of contention in the crypto and blockchain sectors.

The draft, part of a broader legislative effort to establish a clear market structure for digital assets, states on page 49 that transactions involving the sale of digital commodities do not qualify as securities—so long as the purchaser is not granted ownership rights in the issuer’s business, profits, or assets. This clarification is particularly meaningful for the secondary market, where many transactions occur between buyers and sellers without direct involvement from the original issuer.

Under this provision, digital commodities traded on secondary markets—such as cryptocurrency exchanges—would not automatically fall under the jurisdiction of the Securities and Exchange Commission (#SEC ), provided they meet the outlined criteria. This distinction could help reduce legal uncertainty for platforms and investors, paving the way for greater innovation and compliance in the digital asset industry.

The draft is part of ongoing bipartisan efforts in Congress to modernize and streamline the oversight of digital assets by clearly delineating the roles of key regulatory bodies such as the SEC and the Commodity Futures Trading Commission (#CFTC ). If passed, the legislation could significantly impact the regulatory landscape, investor protection frameworks, and operational practices across the crypto ecosystem.

As lawmakers continue to gather feedback from industry stakeholders, the proposed draft marks a promising step toward a more structured and transparent regulatory environment for digital commodities in the United States.