#USHouseMarketStructureDraft The US House of Representatives has released a draft bill for a digital asset market structure, aiming to establish a regulatory framework for cryptocurrencies. This move is expected to provide clarity and certainty for the industry, fostering innovation while protecting consumers.

*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 their spot markets.

- *Decentralization Test*: A project must not be under unilateral control by any single party, with disclosure required if any party holds more than 10% of the token supply.

- *Investor Access*: The bill removes wealth and income restrictions for retail investors, allowing broader access to digital asset markets.

- *Stablecoin Definition*: Stablecoins are defined without being categorized as securities, providing clarity for these digital assets.

- *DeFi Exemptions*: Protocols that are non-custodial and don't exercise discretionary control over users' funds may be exempt from certain regulations.

*Implications:*

- *Regulatory Clarity*: The bill aims to close regulatory gaps and provide a clear framework for digital asset regulation.

- *Innovation*: By establishing a functional regulatory framework, the bill seeks to promote American innovation and leadership in financial technology.

- *Consumer Protection*: The bill includes provisions to protect consumers from fraud and ensure adequate safeguards.