TechFlow news, May 30 — According to CoinDesk, U.S. House Republicans have formally introduced the Digital Asset Market Clarity Act, a 236-page bill aimed at establishing a regulatory framework for digital asset markets.
The bill grants the Commodity Futures Trading Commission (CFTC) exclusive authority to regulate spot markets for digital commodities and allows cryptocurrency platforms to register with either the CFTC or the Securities and Exchange Commission (SEC), depending on their business nature. It explicitly states that payment stablecoins are not securities and exempts decentralized finance (DeFi) operators and wallet service providers from SEC regulation.
In addition, the bill requires the SEC, CFTC, and Treasury Department to submit a research report on DeFi and non-fungible token (NFT) regulation within one year. If passed, the relevant regulators would be required to finalize market structure rules within one year. Currently, the Senate continues advancing its deliberations on stablecoin legislation.
