The Blockchain Association has been making a significant push ahead of the Financial Innovation and Technology for the 21st Century Act (FIT21 Act), and we are hopeful that Speaker Johnson and Representative Jeffries will support this much-needed legislation.” This makes a venture into the legislative area, though it is all about regulatory clarity and focuses on making U.S.-based firms world leaders in fostering innovation and providing consumer protection in the technology sector.
FIT21, The Act: broad support from The Crypto Council for Innovation, and 60 and more entities, including some industry key players, like Andreessen Horowitz, Coinbase, and Circle. Also, some important industry players have come out in support of it: Rep. French Hill, who says the act will make market integrity simpler and ensure the U.S. competitive position in blockchain and fintech.
The FIT21 Act is therefore hoped to boost the necessary impetus: finally providing the clear identification of the regulated spheres of CFTC and SEC in the markets of digital assets, with stable investments and sustainable growth, it is going to fundamentally enhance America’s position in the world digital economy, ensuring long-term innovation and international competitiveness.
