U.S. Congressman Thompson plans to submit digital asset market structure to the House of Commons this week

According to CryptoSlate, U.S. Republican Representative Glenn Thompson (R-PA) stated that he is preparing to introduce his cryptocurrency bill in the House of Commons this week, and believes that the recent Ripple ruling will help win Democratic support for the bill. The digital asset market structure bill was introduced by Thompson and Congressman Patrick McHenry and supported by Congressmen French Hill and Dusty Johnson. The bill was first brought to the House of Commons for preliminary scrutiny on June 2 before it is scheduled to go to a vote in July. The bill proposes a new regulatory framework to classify cryptocurrencies as securities or commodities, regulated by the U.S. Commodity Futures Trading Commission (CFTC) or the U.S. Securities and Exchange Commission (SEC).