比特币以太坊归为 “数字商品”，美国监管终于有明确方向！

Core Viewpoint - The U.S. Senate Agriculture Committee has released a draft of the highly anticipated Digital Asset Market Structure Bill, which aims to establish a regulatory framework for the cryptocurrency industry, seen as a crucial step towards broader adoption of digital assets by both institutions and retail investors [1] Summary by Relevant Sections Key Provisions of the Draft - The draft classifies leading digital assets like Bitcoin and Ethereum as "digital commodities," placing them under the jurisdiction of the Commodity Futures Trading Commission (CFTC), which is expected to eliminate major barriers for institutional custodians and provide necessary legal certainty [2] - It mandates cryptocurrency companies to implement business separation, breaking the common "one-stop" model of exchanges, and aligning with traditional financial institution standards to prevent conflicts of interest, viewed as a foundational pillar for institutional entry [2] - The draft enhances CFTC's regulatory authority, allowing it to collaborate with the Securities and Exchange Commission (SEC) to develop cryptocurrency-related rules, marking a shift from SEC's long-standing dominance in the regulatory landscape [2] - It authorizes the CFTC to charge fees to regulated entities, with funds allocated for the registration of digital commodity exchanges, institutional oversight, and investor education [2] - The draft establishes token listing standards, permitting only the trading of "not easily manipulated" digital commodities, aimed at reducing common fraud in the industry and boosting market confidence [2] Industry Response and Future Steps - The CEO of the Digital Chamber, Cody Carbone, stated that the draft serves as the "most important roadmap" for institutional integration of digital assets, clearly outlining compliance requirements, although it is not the final version and will undergo feedback collection over the coming weeks [3] - The draft will be integrated with related proposals from the Senate Banking Committee to form a comprehensive bill, reflecting a dual breakthrough in regulation and application within the U.S. cryptocurrency industry [3] - There is ongoing exploration of Bitcoin strategic reserve legislation in over ten states, alongside a continuous expansion of Wall Street institutional holdings, indicating a synchronized acceleration of regulatory normalization and institutionalization processes [3]