TechFlow news, April 4 — According to Coindesk, House Financial Services Committee Chairman French Hill and Agriculture Committee Chairman Glenn Thompson jointly released six core principles for digital asset legislation, aiming to position the United States as the "global crypto hub."
Previously, the 118th Congress achieved a historic breakthrough when the bipartisan Digital Asset Market Structure Bill, jointly advanced by the House Financial Services and Agriculture Committees, passed through a congressional chamber for the first time. Under President Trump’s leadership, the new Congress has committed to establishing a clear development pathway for the digital asset ecosystem.
The six proposed principles include: promoting innovation, clarifying asset classification, regulating frameworks for issuing new digital assets, establishing a regulatory system for spot market exchanges, defining best practices for customer asset protection, and safeguarding innovation in decentralized projects. The two chairs stated that a second joint hearing on digital asset market structure legislation will be held in May.
Notably, the proposal emphasizes the importance of the CFTC in regulating non-security digital asset exchanges, while clearly stating that decentralized protocols should not be subject to regulations designed for centralized custodians.
