The past two weeks have seen a rapid succession of blockchain legal developments, a few of which we touch on below. On a positive note, the US House of Representatives released a comprehensive 162-page Digital Asset Market Structure Bill discussion draft, marking a significant step towards a regulatory framework for digital assets. The House Committee on Agriculture also held a hearing to discuss the Digital Asset Market Structure discussion draft.
On the less positive side of things, while the Securities and Exchange Commission ("SEC") settled its insider trading case against a former Coinbase employee and it also filed lawsuits against Binance and Coinbase, alleging that these two prominent businesses in the industry operated unauthorized securities exchanges.
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