#USHouseMarketStructureDraft #USHouseMarketStructureDraft The US House Market Structure Draft is a proposed bill aimed at establishing a regulatory framework for digital assets in the United States. Introduced by Chairmen Dusty Johnson, G.T. Thompson, French Hill, and Bryan Steil, the draft seeks to provide clarity on the treatment of digital commodities and establish a clear regulatory regime.

*Key Provisions:*

- *Digital Commodities:* The bill asserts that transactions involving the sale of digital commodities won't be classified as securities if they don't grant purchasers any ownership interest in the issuer's business, profits, or assets.

- *Decentralization Test:* The draft introduces a clear decentralization test, requiring that no single entity has unilateral control over a digital commodity. Projects that don't meet this criterion will face scrutiny, with holders of more than 10% of the project required to be disclosed.

- *Regulatory Jurisdiction:* The bill clarifies the jurisdictional divide between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), allowing digital asset projects to develop under well-defined rules for securities and commodities.

- *Consumer Protection:* The draft prioritizes consumer protection, with provisions aimed at preventing market manipulation and ensuring fairness in digital commodity transactions.

- *Airdrops and DeFi:* The legislation permits airdrops under specific conditions and provides exemptions for decentralized finance (DeFi) protocols that are non-custodial and don't exercise discretion over user funds.

*Goals and Implications:*

- *Foster Innovation:* The bill aims to foster innovation and broader adoption of cryptocurrencies in the US, while ensuring regulatory clarity and consumer protection.

- *Global Regulatory Standards:* The legislation could set a precedent for global regulatory standards, ensuring trust and stability in the market.