A group of leading House Republicans released a discussion draft of a bill to establish a regulatory framework for digital assets in the United States.
The discussion draft establishes clear, functional requirements to protect consumers while fostering
innovation. Under the discussion draft, digital asset developers will be required to provide accurate, relevant disclosures, including information relating to each digital asset project’s operation, ownership, and structure. Further, digital asset developers will have a pathway to raise funds under the SEC’s jurisdiction. In addition, market participants will have a clear process to register with the CFTC for digital
commodity trading.
Also, the draft would establish clear lines between the SEC and CFTC And create comprehensive registration regimes to permit them to lawfully serve customers in digital asset markets.
“America needs to be the powerhouse for digital asset investment and innovation,” U.S. Rep. Dusty Johnson (R-SD), one of the authors of the draft bill, said. “For that to happen, we need a commonsense regulatory regime. It’s been an honor to develop this draft language with Chairmen Thompson, Hill, and Steil, and I look forward to refining and advancing our bill.”
The draft was also authored by Reps. G.T. Thompson (R-PA), French Hill (R-AR), Bryan Steil (R-WI).
“Regulatory clarity is long overdue in digital asset markets,” Thompson said. “Today marks the first step in advancing a comprehensive framework that protects consumers, fosters innovation, and closes regulatory gaps in oversight. It will give digital asset developers and users the certainty they need and have asked for. Members of the Committee on Agriculture are proud to work with members of the Financial Services Committee, led by Chairman Hill and Chairman Steil. And I am grateful to Chairman Dusty Johnson, whose bipartisan leadership has been instrumental every step of the way.”
The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence & House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development were slated to hold a hearing on the draft this week.
“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” Hill said. “Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States. I look forward to receiving feedback from the public and working alongside the Trump Administration and my House and Senate colleagues to deliver a clear, durable framework to President Trump’s desk so that America remains the crypto capital of the world.”