Digital-asset market structure, in the current repository, refers to the proposed federal framework for classifying digital assets, allocating SEC and CFTC authority, and regulating the exchanges, brokers, dealers, custody arrangements, disclosures, and DeFi-adjacent activities around those assets.
This concept is broader than stablecoin issuance. It covers the architecture of who regulates which digital assets, under what classifications, with what disclosure obligations, registration regimes, anti-fraud tools, and treatment for software developers, self-custody, and decentralized or partially decentralized systems.
Digital-asset market structure is not limited to payment stablecoins or issuer reserves.
Those narrower questions belong under Stablecoin regulation.
At the same time, this concept is narrower than the repository's more general Financial regulatory policy page, which also includes candidate networks, agency politics, and broader financial-regulation context.
The current corpus centers this concept on H.R. 3633 and the Senate's efforts to produce or revise companion frameworks in both Banking and Agriculture. Official committee pages and the newly added draft-text captures frame it as a clarity and investor-protection regime. Secondary coverage shows that once the concept moves from broad principles into legislative bargaining, conflicts emerge over rewards, DeFi, ethics, AML scope, the practical calendar for Senate action, and which side of the bank-crypto divide will gain structural advantage.
raw/articles/2026-04-04T183811-0600 h-r-3633-119th-congress-2025-2026-digital-asset-market-clarity-act-of-2025-congress-gov-library-of-congress.md and raw/articles/2026-04-04T183811-0600 text-h-r-3633-119th-congress-2025-2026-digital-asset-market-clarity-act-of-2025-congress-gov-library-of-congress.md: provide bill status and statutory framingraw/datasets/2026-04-04T183812-0600 bills-119hr3633rfs.md: preserves the structured Senate-referred text artifactraw/papers/2026-04-05T120954-0600 senate-banking-market-structure-discussion-draft-july-2025.md, raw/papers/2026-04-05T120954-0600 senate-banking-market-structure-second-discussion-draft-september-2025.md, and raw/papers/2026-04-05T120954-0600 senate-banking-digital-asset-market-structure-rfi-july-2025.md: show that Senate Banking developed and revised its own market-structure framework rather than only reacting to the House billraw/articles/2026-04-04T183815-0600 myth-vs-fact-the-clarity-act-united-states-committee-on-banking-housing-and-urban-affairs.md and raw/articles/2026-04-04T183815-0600 the-facts-the-clarity-act-united-states-committee-on-banking-housing-and-urban-affairs.md: show Senate Banking's public framing of investor protection, AML, DeFi, and jurisdictionraw/papers/2026-04-05T120954-0600 senate-agriculture-digital-commodity-intermediaries-act-january-2026.md: strengthens the Agriculture-side primary record beyond press-release coverageraw/articles/2026-04-04T183822-0600 congress-set-to-bring-clarity-to-digital-asset-market-structure.md: gives a structured legal overview of the bill's architectureraw/articles/2026-04-04T184255-0600 US senators introduce long-awaited bill to define crypto market rules.md: shows how outside reporting framed the bill's core promise and main political fault lines