New House Market Structure Bill Could Reshape Crypto Regulation in the US

A draft bill in the House Financial Services Committee proposes sweeping changes to crypto oversight, potentially removing most digital assets from SEC jurisdiction. The legislation would amend Depression-era securities laws to exclude cryptocurrencies meeting specific criteria, transferring regulatory authority for secondary market trading to the CFTC.

The move signals growing congressional recognition of crypto’s unique characteristics that don’t fit neatly within traditional securities frameworks. Market participants have long argued that applying 1930s-era regulations to blockchain assets creates unnecessary friction in digital asset markets.

While the bill’s language remains subject to revision, its current form could provide regulatory clarity for major cryptocurrencies that have operated in legal limbo. The proposed changes would particularly impact assets with decentralized networks and clear utility functions beyond investment contracts.