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Republican Lawmakers Unveil Visionary Crypto Market Structure Proposal

Republican representatives in the US House of Representatives have introduced a draft bill aimed at addressing regulatory challenges in the digital asset market. The proposed legislation suggests a new framework for the classification of digital assets as either securities or commodities, with the Securities and Exchange Commission (SEC) regulating investment contract tokens and the Commodity Futures Trading Commission (CFTC) regulating commodities.

The bill also offers guidance on how digital asset platforms can register with regulatory bodies and mandates collaboration between the SEC and CFTC in formulating rules for dual-registered exchanges. The proposed legislation recognizes the need for a transitional phase during the rule-making process and calls for studies on emerging aspects of the crypto market.

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