The draft law "US House Market Structure Draft," introduced in May 2025, aims to create a clear regulatory framework for cryptocurrencies in the US. It defines jurisdictions for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), categorizing digital assets as "restricted digital assets" (under SEC oversight) and "digital commodities" (under CFTC oversight). The draft also provides for self-certification of blockchain projects for classification as "digital commodities" and reduces the threshold for defining "affiliated persons" from 5% to 1% to limit market concentration. While DeFi projects are exempt from direct regulation, regulators retain authority to combat fraud and manipulation. This bill is a successor to FIT21 and aims to ensure transparency, consumer protection, and promote innovation in the field of digital assets.

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