Committees Introduce Financial Innovation and Technology for the 21st Century Act

Press Release

"This is a pivotal moment for America's standing as the global leader in innovation and technology adoption. Not only can digital assets revolutionize our financial system, but their underlying blockchain technology holds promise as the building blocks for the next generation of the internet. As other countries move forward with digital asset regulatory frameworks and Chair Gensler continues his regulation by enforcement, the U.S. is falling behind. Innovators need regulatory clarity and certainty to enable this technology to achieve its full potential. That's why Republicans introduced the FIT for the 21st Century Act to finally provide clear rules of the road so the digital asset ecosystem can thrive in the U.S. This legislation is the product of years of work and unprecedented coordination between the House Financial Services and Agriculture Committees. I applaud Chairman Thompson and Subcommittee Chairman Hill's leadership, and I look forward to passing this bill out of the Financial Services Committee next week."

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