The digital asset industry has reached a significant milestone with 90% of leading companies agreeing on a set of market structure principles. These principles aim to guide the path toward smart regulation, focusing on twelve key areas. They emphasize consumer protection alongside innovation, advocating for standardized disclosures and robust safeguards. The framework distinguishes between financial and non-financial blockchain applications, ensuring that non-custodial software and smart contracts aren’t burdened with unnecessary regulations. It also calls for clear token classification to aid compliance and market growth. The principles recognize the global nature of digital assets, promoting U.S. competitiveness by reducing cross-border transaction friction and establishing a single secondary trading market. Developer protections are highlighted, ensuring open-source developers aren’t liable for misuse of their code. This consensus signals the industry’s readiness for common sense regulation, urging policymakers to act swiftly in this critical window of opportunity.
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