On May 5, 2023, the U.S. House Committee on Financial Services and the Agriculture Committee jointly released a discussion draft of the "Digital Asset Market Structure Act," aimed at establishing a clear and unified regulatory framework for the U.S. cryptocurrency market. The draft is led by Republican lawmakers French Hill, Glenn Thompson, Bryan Steil, and Dusty Johnson, marking an important step for the U.S. in digital asset regulation following the FIT21 Act.

📜 Core Content of the Draft

Clarification of Regulatory Boundaries: The draft attempts to clarify the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the regulation of digital assets, proposing that the two agencies jointly formulate rules to define which digital assets are considered "digital commodities" and which are securities.

Non-Security Definition