#USHouseMarketStructureDraft The U.S. House of Representatives has unveiled a new discussion draft of a crypto market structure bill aimed at establishing a comprehensive regulatory framework for digital assets. This draft builds upon the previous Financial Innovation and Technology for the 21st Century Act (FIT21) and seeks to clarify the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing digital assets.

Key Provisions of the Draft Bill

Regulatory Jurisdiction: The bill delineates the oversight responsibilities between the SEC and CFTC. Digital assets that meet certain decentralization criteria would be classified as commodities under the CFTC's purview, while others would fall under the SEC's jurisdiction.

Definition of Investment Contracts: The draft proposes amendments to existing laws, particularly the Securities Investor Protection Act of 1970, to redefine "investment contracts" in a way that excludes certain digital commodities from being classified as securities.