Break down the new draft U.S. cryptocurrency market structure bill: 6 key insights
In line with U.S. President Donald Trump’s regulatory agenda aimed at promoting innovation and broader cryptocurrency in the country, Fox reporter Eleanor Terret Report The House’s draft new market structure discussion is intended to clarify the treatment of digital goods.
Specifically, it asserts that transactions involving the sale of digital goods will not be classified as securities, as long as those transactions do not grant any ownership of the issuer’s business, profit or assets to the purchaser.
Proposed legislation seeks clear crypto transactions
This proposed legislation instruct If an individual purchases or sells digital goods on the secondary market (rather than directly from the issuer), the transaction does not automatically trigger the U.S. securities law unless it gives the company some form of ownership or claim for profit or assets. This distinction is crucial to promote a more favorable environment for crypto trading and investment.
The draft bill outlines several key amendments to existing laws Digital Products Classified as a securities.
This means that secondary market transactions involving crypto assets may not be subject to strict regulations that generally apply to securities under various bills, including the Securities Act of 1933 and the Investment Advisors Act of 1940.
Vaneck’s Matthew Sigel highlights key changes
Matthew Sigel, head of digital asset research at Vaneck, asset management company Summarize The meaning of the draft bill is to emphasize several key points.
A major change is the revenue and wealth constraints of retail buyers, which opens the market to a wider audience. Additionally, the bill eliminates the need for approved investor checks and simplifies investment opportunities in crypto assets
Another important aspect of the draft is the introduction of a clear decentralized test that requires no entity to have unilateral control over digital goods. Projects that do not meet this criteria will face scrutiny as more than 10% of the project holders must be disclosed while the project is still concentrated.
The bill also provides exemptions Decentralized Finance (fefi) protocols, as long as they are non-monitorized and do not exercise discretion over user funds.
Furthermore, the draft defines stable, without classifying them as securities, providing much-needed clarity to these increasingly popular digital assets.
It also outlines the issuer’s optional early registration path and highlights the need for joint rulemaking between the SEC and the Commodity Futures Trading Commission (CFTC), further demonstrating a collaborative approach to crypto regulations.
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