#USHouseMarketStructureDraft The US House of Representatives has released a draft bill outlining a regulatory framework for digital assets, known as the market structure bill. This bill aims to provide clarity on the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating digital assets ¹ ².

*Key Provisions:*

- *SEC vs CFTC*: The SEC will oversee digital assets considered investment contracts, while the CFTC will regulate digital commodities and spot markets.

- *Decentralization Test*: A project is considered decentralized if no single party has unilateral control, and if any party holds more than 10% of the token supply, they must disclose this information.

- *Investor Access*: The bill removes wealth and income restrictions for retail investors, allowing broader access to digital asset markets.

- *Disclosure Requirements*: Digital asset developers will be required to disclose information about their projects.

- *Stablecoins*: Stablecoins are defined in the bill, but a separate stablecoin bill has encountered resistance in the Senate.

*Implications:*

- *Regulatory Clarity*: The bill provides much-needed regulatory clarity for the digital asset ecosystem, protecting consumers and safeguarding market integrity.

- *Industry Growth*: Clear regulations could foster innovation and growth in the digital asset space, making the US a leader in financial innovation.

- *Bipartisan Support*: The bill has bipartisan support, with lawmakers working together to advance a comprehensive framework for digital assets ¹ ² ³.