#USHouseMarketStructureDraft
The US House of Representatives has released a discussion draft for a digital asset market structure bill, aiming to establish a regulatory framework for cryptocurrencies. Here's what you need to know ¹ ²:
- *Key Provisions:*
- *SEC and CFTC Roles*: The Securities and Exchange Commission (SEC) will oversee digital assets considered investment contracts, while the Commodity Futures Trading Commission (CFTC) will regulate digital commodities and spot markets.
- *Decentralization Test*: A project must not be under unilateral control by any single party, and if a party holds more than 10% of the token supply, they must disclose this while the network remains centralized.
- *Investor Access*: The draft removes wealth and income restrictions for retail investors, allowing broader participation in digital asset markets.
- *Goals and Implications:*
- *Regulatory Clarity*: The bill aims to provide clarity and close regulatory gaps, fostering innovation while protecting consumers.
- *Industry Impact*: The draft could significantly impact the crypto industry by providing a framework for digital asset regulation, potentially boosting investor confidence and market growth.
- *Next Steps:*
- *Public Feedback*: The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence & House Agriculture Subcommittee