#USHouseMarketStructureDraft

The U.S. House of Representatives has released a draft of a bill regarding market structure aimed at providing regulatory clarity for digital assets. A key provision clarifies that transactions involving the sale of digital commodities are not considered securities if the buyer does not acquire an ownership interest in the issuer.

The draft seeks to establish clear roles for the SEC and the CFTC in overseeing the crypto market. It proposes a decentralization test where projects with a single party holding more than 10% of the tokens must disclose this while the network remains centralized.

Additionally, the draft includes measures aimed at expanding access for retail investors and exempting decentralized finance protocols that meet specific criteria from registration as brokers or dealers of digital commodities.