U.S. Congressman Thompson plans to introduce a digital asset market structure bill this week, classifying cryptocurrencies as securities or commodities

ChainCatcher news, according to CryptoSlate, U.S. Republican Congressman Glenn Thompson (R-PA) stated that he is prepared to introduce his cryptocurrency bill in the House this week and believes that the recent Ripple ruling will help garner Democratic support for the bill.

The Digital Asset Market Structure Bill was introduced by Thompson and Congressman Patrick McHenry, with support from Congressmen French Hill and Dusty Johnson. The bill was first submitted to the House for preliminary review on June 2 and is scheduled to enter the voting phase in July. The bill proposes a new regulatory framework that classifies cryptocurrencies as either securities or commodities, to be regulated by the U.S. Commodity Futures Trading Commission (CFTC) or the U.S. Securities and Exchange Commission (SEC).