Crypto Market: US House Releases Draft

U.S. House Committees Release Crypto Market Structure Draft

• The U.S. House Financial Services and Agriculture Committees released a crypto market structure draft on May 5, 2025.
• The draft proposes distinct roles for the SEC and CFTC in regulating digital assets and commodities.
• A decentralization test is included, requiring disclosure if any party holds more than 10% of a token supply.
• Wealth restrictions for retail investors are removed, broadening market access.
• Stablecoins are defined without being categorized as securities, but face Senate resistance.

The draft aims to clarify regulatory roles between the SEC and CFTC while removing barriers for retail investors and addressing stablecoin regulation challenges in the Senate.