House Introduces Bill To Define and Regulate Crypto

French Hill introduced the bipartisan ‘Digital Asset Market Clarity Act’ to create a unified federal framework for regulating crypto

It divides oversight between the SEC and CFTC

The bill defines key terms like digital commodities and stablecoins, offers a four-year safe harbor for primary token offerings under $75M if the blockchain is mature, and exempts secondary trades from securities laws to reduce regulatory uncertainty

It gives the CFTC authority over spot trading and custody of digital commodities, simplifies SEC licensing for digital-commodity broker-dealers

It also requires crypto platforms to register with the CFTC and join a self-regulatory organization

Backed by lawmakers across parties, the bill is now moving toward committee markups before a full House vote

Source: CryptoSlate