The Blockchain Association today urged House Speaker Mike Johnson and Minority Leader Hakeem Jeffries to support H.R.4763, or the Financial Innovation and Technology for the 21st Century Act (FIT21).
The Act aims to create a regulatory framework for blockchain and digital assets, which have been operating without specific regulations.
The letter to House leaders stated that FIT21 is a necessary step for putting pro-innovation and pro-consumer policies in place to safeguard and, at the same time, protect the consumer market. This proposed legislation seeks to protect US dominance in the blockchain industry.
The association is confident that the bill’s passage in the House will definitely give room for further debates and refinement of the regulation in the Senate, such that a final law that benefits the industry is reached.
This request from the Blockchain Association for the vote on FIT21 clearly demonstrates the importance of creating favorable regulations and innovation-friendly policies to keep the US a leader in the blockchain space.
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