House Republican Leaders Release Discussion Draft To Draw Clear Lines on Digital Asset Definitions

House Republican Leaders Release Discussion Draft To Draw Clear Lines on Digital Asset Definitions



Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee have collaborated to draft legislation aimed at regulating digital assets. The legislation, which was recently released, seeks to bring clarity to the classification of digital assets as securities, thereby subjecting them to regulation by the Securities and Exchange Commission (SEC). It also establishes a process for the treatment of digital assets and the registration of intermediaries with either the SEC or the Commodity Futures Trading Commission (CFTC).



During the previous Congress, both House Financial Services Chair Patrick T. McHenry and House Agriculture Chair Glenn "GT" Thompson worked together to find a way forward, as per sources familiar with the drafting process.



The proposed legislation, known as the Digital Asset


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