#USHouseMarketStructureDraft The Regulatory Turning Point for Cryptocurrencies**

The new draft law on market structure from the U.S. House of Representatives could reshape the future of cryptocurrencies:

1. **Clear Rules** – Defines most tokens as *digital commodities* (not securities), ending SEC regulation through enforcement.

2. **Survival of CEX** – Exchanges receive a 90-day grace period to comply, legitimizing Coinbase/Kraken.

3. **Institutional Green Light** – Banks and pension funds gain legal clarity to allocate.

*Hidden Victory*: Acceleration of **ETF approvals on ETH spot** by 2025.

**Market Impact**: BTC $100K+ becomes the base case if signed into law. The *final regulatory catalyst*.