#USHouseMarketStructureDraft
On May 6, 2025, the United States House of Representatives revived discussions on cryptocurrency regulation with the publication of a new bill regarding the structure of the digital asset market. This bill, supported by the Republican chairs of the financial services and agriculture committees, aims to clarify the legal status of digital assets by defining which fall under securities laws and which do not. It also proposes a mechanism to determine the legal status of blockchain networks launched before the adoption of the law. However, assets functioning as swaps, futures, or derivatives will still have to comply with existing regulations. This proposal has sparked intense debates, particularly due to concerns that it may weaken regulation in the sector. Critical voices, such as that of the chairwoman of the financial services committee, Maxine Waters, believe that the bill would extend the resources of the Commodity Futures Trading Commission (CFTC) without granting it the necessary powers to effectively regulate the sector. Furthermore, the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, has expressed reservations, highlighting that the bill could create new regulatory gaps and weaken existing legal tests. This bill is expected to undergo thorough debates and substantial revisions before being adopted.