Editor's PiCK
US House Financial Services Chair "FIT21 Amendment Draft to be Released in a Few Weeks"
Summary
- The US House Financial Services Committee announced plans to release a draft amendment of FIT21, addressing the structure of the virtual asset market, in a few weeks.
- The bill grants oversight authority over digital commodities and the spot market to the CFTC, and clearly defines the roles and jurisdiction of the SEC.
- It was reported that FIT21 passed the House last year with the support of 71 Democratic lawmakers.
The US House Financial Services Committee is set to release a draft amendment of the '21st Century Financial Innovation Technology Act (FIT21)', a bill addressing the overall structure of the virtual asset (cryptocurrency) market, in a few weeks.
According to The Block on the 26th (local time), French Hill, the House Financial Services Committee Chair, announced at the DC Blockchain Summit that "the committee plans to release a draft amendment of the market structure bill 'FIT 21' that was worked on last year within a few weeks."
The bill passed the House last year with the support of 71 Democratic lawmakers. Former House Speaker Nancy Pelosi also cast a vote in favor.
FIT 21 grants oversight authority over digital commodities, including Bitcoin (BTC), and the spot market to the Commodity Futures Trading Commission (CFTC), and clearly defines the roles and jurisdiction of the Securities and Exchange Commission (SEC).
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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