#USHouseMarketStructureDraft

The U.S. House of Representatives is revisiting efforts to regulate cryptocurrencies, with key Republican leaders from the Financial Services and Agriculture committees introducing a new draft of digital asset market structure legislation. The proposed framework aims to clarify which digital assets fall under securities laws and which do not, addressing a long-standing conflict between regulators and the crypto industry since 2017's widespread token offerings. The draft outlines a process through which digital assets can be issued and traded without being classified as securities under the 1933 Securities Act. However, it maintains that assets functioning like swaps, futures, or derivatives must still comply with existing regulations. Additionally, the legislation provides a mechanism to determine the legal status of blockchain networks launched before the law's enactment. As traditional securities laws are ill-suited for decentralized technologies, this comprehensive and complex proposal is expected to undergo significant debate and revision. Lawmakers are monitoring whether a joint hearing on the matter will proceed as scheduled. (Axios)