Blockchain Association Pushes for House Vote on FIT21 Act

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As a researcher with a background in blockchain technology and digital assets, I strongly support the call from the Blockchain Association for House Speaker Mike Johnson and Minority Leader Hakeem Jeffries to bring H.R.4763, or the Financial Innovative and Technology for the 21st Century Act (FIT21), to a floor vote. The lack of specific regulations in this rapidly evolving industry has created an uncertain environment that stifles innovation and puts consumers at risk.

Today, the Blockchain Association strongly recommended that House Speaker Mike Johnson and Minority Leader Hakeem Jeffries back the Financial Innovations and Technologies for the 21st Century Act, specifically bill H.R.4763.

1/ Today, @BlockchainAssn members sent a letter to @SpeakerJohnson and @RepJeffries in support of a floor vote for the Financial Innovation and Technology for the 21st Century Act (#FIT21).

— Blockchain Association (@BlockchainAssn) May 20, 2024

The Act aims to establish a regulatory structure for blockchain technology and digital assets, which previously lacked clear guidelines.

I believe that the passage of FIT21 is essential for advancing pro-innovation and pro-consumer policies, while simultaneously safeguarding the consumer market. This proposed legislation aims to preserve the United States’ leadership role in the blockchain industry.

As an analyst, I believe the passage of the bill in the House will pave the way for extensive debates and improvements in the Senate, ultimately leading to a favorable legislation for the industry.

The Blockchain Association’s call for a vote on FIT21 underscores the necessity of crafting supportive regulations and forward-thinking policies to maintain America’s dominance in the rapidly advancing blockchain sector.

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2024-05-21 02:29