#USHouseMarketStructureDraft On May 5, 2025, Republican leaders in the U.S. House of Representatives unveiled a new draft of the Digital Asset Market Structure bill, aiming to establish a comprehensive regulatory framework for cryptocurrencies and digital assets. The draft, introduced by Representatives French Hill (AR), Glenn "GT" Thompson (PA), Bryan Steil (WI), and Dusty Johnson (SD), 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:

Redefining Investment Contracts: The bill proposes amendments to existing laws, particularly the Securities Investor Protection Act of 1970, to redefine "investment contracts." This redefinition aims to exclude certain digital commodities from being classified as securities, thereby potentially removing them from the SEC's jurisdiction.

Decentralization Criteria: A process is outlined to determine whether a digital asset's underlying blockchain network is sufficiently decentralized. Assets meeting this criterion would be regulated by the CFTC, while those that do not would fall under the SEC's oversight.

Disclosure Requirements: To promote transparency, the draft includes provisions requiring crypto project members to disclose token holdings exceeding