#USHouseMarketStructureDraft The US House Market Structure Draft is a proposed framework for regulating digital assets in the United States. Released on May 5, 2025, by the House Financial Services Committee and the House Agriculture Committee, this draft aims to provide clarity on the digital currency market structure, including [1][4]:

- *Key Provisions*:

- *Roles of the SEC and CFTC*: The Securities and Exchange Commission (SEC) will regulate digital assets considered investment contracts, while the Commodity Futures Trading Commission (CFTC) will oversee digital commodities and spot markets.

- *Decentralization Test*: A project is considered decentralized if no single party has unilateral control, and if any party holds more than 10% of the token supply, they must disclose it.

- *Investor Access*: This draft removes wealth and income restrictions for retail investors, allowing broader access to the digital asset market.

- *Definition of Stablecoin*: Stablecoins are defined in the draft without being categorized as securities, but a separate stablecoin bill has faced resistance in the Senate.

*Goals and Implications* [4][2]:

- *Regulatory Clarity*: Provide a clear framework for digital asset regulation, protecting consumers and encouraging innovation.

- *Consumer Protection*: Establish a functional regulatory framework to protect consumers and promote responsible innovation.

- *Industry Impact*: This draft is expected to bring regulatory certainty to the digital asset ecosystem, fostering innovation and investment.

*Next Steps* [6]:

- *Public Feedback*: The committee will gather feedback from stakeholders and refine the draft before proceeding.

- *Joint Hearing*: A joint hearing titled "American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century" is scheduled for May 6, 2025, to discuss the draft and gather input from stakeholders.