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A new bill from the U.S. House of Representatives clarifies digital commodity transactions

According to Odaily, a new bill from the U.S. House of Representatives aimed at discussing market structure seeks to clarify the classification of digital commodity transactions. As reported by Eleanor Terrett, a journalist at Forbes, the bill states on page 49 that transactions involving the sale of digital commodities are not considered securities, provided that they do not grant the buyer any ownership rights in the issuer's business, profits, or assets. Essentially, buying and selling digital commodities on the secondary market, as opposed to direct purchases from the issuer, will not automatically trigger U.S. securities laws unless the sale grants ownership or rights in the company’s profits or assets.