Breaking Down The New US Crypto Market Structure Bill Draft: 6 Key Insights

By: bitcoinist|2025/05/06 19:15:01
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In line with US President Donald Trump’s regulatory agenda aimed at fostering innovation and broader adoption of cryptocurrencies in the country, Fox journalist Eleanor Terret has reported that a new market structure discussion draft from the House of Representatives aims to clarify the treatment of digital commodities. Specifically, it asserts that transactions involving the sale of digital commodities will not be classified as securities, provided these transactions do not grant purchasers any ownership interest in the issuer’s business, profits, or assets. Proposed Legislation Seeks Clarity On Crypto Transactions This proposed legislation indicates that if an individual buys or sells digital commodities on the secondary market—rather than directly from the issuer—the transaction will not automatically trigger US securities laws unless it confers some form of ownership or claim on the company’s profits or assets. This distinction is crucial for fostering a more favorable environment for crypto trading and investment. The draft bill outlines several critical amendments to existing laws, particularly the Securities Investor Protection Act of 1970. Notably, it defines “investment contracts” in a manner that excludes certain digital commodities from being classified as securities. This means that secondary market transactions involving crypto assets may not be subject to the stringent regulations typically applied to securities under various acts, including the Securities Act of 1933 and the Investment Advisers Act of 1940. VanEck’s Matthew Sigel Highlights Key Changes Matthew Sigel, head of digital asset research at asset management firm VanEck, summarized the implications of the draft bill by highlighting several key points. One major change is the removal of income and wealth limits for retail buyers, which opens the market to a broader audience. Additionally, the bill eliminates the need for accredited investor checks, simplifying access to investment opportunities in crypto assets Another important aspect of the draft is the introduction of a clear decentralization test, which requires that no single entity has unilateral control over a digital commodity. Projects that do not meet this criterion will face scrutiny, as holders of more than 10% of the project must be disclosed while it remains centralized. The bill also provides exemptions for decentralized finance (DeFi) protocols, as long as they are non-custodial and do not exercise discretion over user funds. Moreover, the draft defines stablecoins without categorizing them as securities, providing much-needed clarity for these increasingly popular digital assets. It also outlines an optional early registration path for issuers and emphasizes the need for joint rulemaking between the SEC and the Commodity Futures Trading Commission (CFTC), further signaling a collaborative approach to crypto regulation. Featured image from DALL-E, chart from TradingView.com

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On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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