#USHouseMarketStructureDraft

A proposed draft from the U.S. House of Representatives addressing market structure seeks to provide clearer guidelines on how digital commodity transactions are categorized. As highlighted by *Forbes* reporter Eleanor Terrett and reported by Odaily, page 49 of the draft states that sales of digital commodities will not be classified as securities under U.S. law **if** the transaction does not provide buyers with ownership stakes in the issuing entity’s business operations, earnings, or assets. This means secondary market trades—where digital commodities are exchanged between third parties rather than purchased directly from the issuer—would generally fall outside the scope of securities regulations. However, securities laws could still apply if such transactions involve claims to the issuer’s profits, assets, or ownership rights.