#USHouseMarketStructureDraft The US House Market Structure Draft is a proposed bill aimed at regulating the cryptocurrency industry in the United States. #
Key Provisions
- *SEC and CFTC Roles*: The bill defines the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing digital assets. The SEC will regulate digital assets considered investment contracts, while the CFTC will oversee digital commodities and their spot markets.
- *Decentralization Test*: A clear decentralization test is included, where a project is considered decentralized if no single party has unilateral control over 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.
- *DeFi Protections*: Decentralized finance (DeFi) protocols and self-custody wallets are protected from strict regulation, exempting them from traditional financial regulations if they don't exercise control over user funds.
Regulatory Framework
- *Digital Commodity Exchanges*: Digital commodity exchanges, brokers, and dealers would register with the CFTC.
- *Joint Rulemaking*: The bill mandates joint rulemaking by the SEC and CFTC.
Implications
- *Regulatory Clarity*: The bill aims to provide much-needed regulatory clarity for the digital asset ecosystem, protecting consumers and fostering innovation.
- *Industry Impact*: The proposed fram$BTC
ework could significantly impact the crypto industry, providing a more structured and transparent regulatory environment ¹ ².#