#USHouseMarketStructureDraft : US Congress Efforts to Regulate Digital Assets

In early May 2025, the US House of Representatives released a draft of a new law aimed at establishing a regulatory framework for digital assets. This draft, a continuation of the FIT21 bill, aims to clarify the jurisdiction between the SEC and CFTC in regulating crypto assets. The bill stipulates that digital assets operating on decentralized networks will be overseen by the CFTC, while those that are not decentralized will remain under the oversight of the SEC.

This draft also includes mechanisms to determine the legal status of blockchain networks launched before this law takes effect. However, the legislative process faces political challenges, including the cancellation of a joint hearing by Rep. Maxine Waters due to concerns over President Trump's involvement in private crypto projects.