House Committee unveils new crypto bill – A ‘solid start,’ says VanEck’s Sigel
By: ambcrypto|2025/05/07 02:15:01
0
Share
The U.S. has unveiled another crypto market structure bill after the FIT21 Act. The crypto community has praised the draft as a ‘solid start’ and upgrade from the previous bill. On the 5th of May, the U.S. House Committee on Financial Services introduced a discussion draft that could form a new crypto market structure bill if adopted. The draft attempts to offer clarity on several issues raised by the Biden-era SEC (Securities and Exchange Commission) enforcement actions. For example, the draft states that the sale of digital commodities isn’t a security if the purchaser doesn’t acquire an ownership interest in the issuer’s business, profits, or assets. Source: House Committee on Agriculture (Excerpt of the discussion draft) A ‘solid start’ for US crypto regulation? For his part, Matthew Sigel, VanEck’s head of digital research, praised the draft as an ‘upgrade from the FIT21’ and a solid start. Source: X Notably, the draft also defines stablecoin as non-securities and exempts non-custodial DeFi protocols. Nevertheless, the DeFi exemption doesn’t limit the regulators’ ability to enforce laws against fraud, false reporting, or market manipulation. Source: House Committee This is the second attempt by the U.S. government to craft a crypto market structure bill after FIT21 (Financial Innovation and Technology for the 21st Century Act). In May 2024, the FIT21 bill was passed with strong bipartisan support in the House of Representatives. But the U.S. Senate hasn’t signed it off yet as of the time of writing. The bill promised consumer protection and national security. For his part, Justin Slaughter , VP of regulatory affairs at Paradigm, said the new crypto market structure draft will make the CFTC (Commodities and Futures Trading Commission) the dominant regulator in the space. “This bill again would make the CFTC the dominant crypto regulator, but still gives the SEC jurisdiction until a network establishes decentralization.” That said, the next step for the draft will be getting feedback from stakeholders before a formal introduction in the House. After that, the House committee will review it and push it to the floor for a vote if approved. The Senate vote and the presidential action will come later, before the bill becomes a law. So, there could be a lot of changes before then. Share Share Tweet
You may also like

Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.

On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.

WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.

One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.

That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.

Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?

Upstream and downstream are starting to fight, all for the sake of everyone being able to "Lobster"
「Lobster」 may not be a mature product yet, but it has already ushered in a new era of 「AI Assistants」.

Circle and Mastercard Announce Partnership, the Next Stage for the Crypto Industry Belongs to Payments
Stablecoins are transitioning from a speculative tool to real financial scenarios such as payments, cross-border transfers, and store of value.

From 5 Mao per kWh of Chinese electricity to a $45 API export: Tokens are rewriting currency units
When the same unit can both measure hashing power and facilitate payments, it ceases to be just a term and begins to evolve into a new currency of both value and influence.

Why is OpenAI playing catch-up to Claude Code instead?
Anthropic Bets Earlier on AI Programming, OpenAI Strategic Tempo Misaligned

Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to sacrifice their identity to use an AI tool.

The doubling of Circle's stock price and the paradigm shift of stablecoins
The initial investments from Circle and Stripe, whether it is the R&D expenses for Arc, the high financing costs associated with Tempo, or the billion-dollar acquisitions of Bridge-type assets, are more akin to "placement fees" rather than commercially recoverable investments in the short term.

Key Market Information Discrepancy on March 13th - A Must-See! | Alpha Morning Report
1. Top News: Latest Developments in US-Iran Conflict, Son of Soleimani Vows Revenge, US Navy Plans to Escort Ships in the Strait of Hormuz
2. Token Unlock: $HTM

On-Chain Options Explosion.ActionEvent
Options are becoming the new anchor in the cryptocurrency market.

《Time》 Magazine Names Anthropic as the World's Most Disruptive Company
The most AI-wary company has created the most dangerous AI

Predictions market gains mainstream traction in the US, Canada, Claude launches Chart Interaction feature, What's the English community talking about today?
What Did Foreigners Care About Most in the Last 24 Hours?

500 Million Dollars, 12 Seconds to Zero: How an Aave Transaction Fed Ethereum's "Dark Forest" Food Chain
Spend $154,000 to buy AAVE at market price of only $111

AI Agent needs Crypto, not Crypto needs AI
It is not Crypto that needs AI to survive, but rather AI Agents that need Crypto to be implemented: when AI truly shifts from "thinking" to "executing," it must seek the boundaries of authority and funding within the programmable primitives of Crypto.
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.
On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.
WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.
One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.
That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.
Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?