#USHouseMarketStructureDraft The #USHouseMarketStructureDraft is a discussion draft released by US House committees to establish a regulatory framework for digital assets. Here's what you need to know¹ ² ³:
- *Key Provisions:*
- *Decentralization Test*: A project is considered decentralized if no single party has unilateral control, and any party holding over 10% of the token supply must disclose.
- *Regulatory Roles*: The SEC will oversee digital assets considered investment contracts, while the CFTC will regulate digital commodities and spot markets.
- *Investor Access*: The draft removes wealth and income restrictions for retail investors, allowing broader participation in digital asset markets.
- *Disclosure Requirements*: Digital asset developers must disclose information, and transactions involving digital commodities won't be considered securities unless they grant ownership rights to the issuer's profits or assets.
- *Impact:*
- *Regulatory Clarity*: The draft aims to provide much-needed clarity for the digital asset ecosystem, protecting consumers and safeguarding market integrity.
- *Industry Reaction*: Some industry voices have welcomed the draft, while others have raised concerns about certain provisions, such as the treatment of stablecoins.
- *Next Steps:*
- *Hearing*: A joint hearing titled "American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century" was scheduled to discuss the draft.
- *Feedback*: The draft is open for public comment, and lawmakers will refine and advance the bill based on feedback.⁴