#USHouseMarketStructureDraft

Hey folks! The US House dropped a new discussion draft on crypto market structure yesterday (May 5), building on last session’s FIT21 effort to get crypto rules over the line CoinDesk. Spearheaded by Reps. Hill, Thompson, Steil, and Johnson, the bill outlines a process for token issuers to get regulatory clarity and sets tests for decentralization to exempt assets from SEC oversight House Financial ServicesDecrypt. It also proposes shifting most secondary trading oversight from the SEC to the CFTC to finally end the turf war CoinDesk. A joint hearing is on deck for today, but Dems like Rep. Waters are threatening to block it CoinDesk. Stay tuned as this one’s just getting started!