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House Republicans Propose Crypto Bill to Limit Market Dominance and Clarify Regulatory Roles
House Republicans Propose Crypto Bill to Limit Market Dominance and Clarify Regulatory Roles
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House Republicans have introduced a draft bill aimed at reducing large-firm control in the cryptocurrency market while delineating regulatory responsibilities between the SEC and CFTC. The legislation, building on the FIT21 Act passed in 2024, seeks to lower the threshold for defining an ’affiliated person’ from 5% to 1%, addressing concerns over market concentration.
The 212-page draft, unveiled by Chairmen French Hill, G.T. Thompson, Bryan Steil, and Dusty Johnson, emphasizes innovation and consumer protection. Its provisions could reshape ownership dynamics in digital asset markets, potentially impacting trading volumes and liquidity across major exchanges.
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