Rep. Patrick McHenry aims for bipartisan support to push digital asset legislation forward post-Senate approval, demonstrating momentum for regulatory change.
FIT21 bill establishes guidelines for digital asset issuers to determine if their assets qualify as securities, clarifying primary regulatory oversight.
Rep. French Hill highlights FIT21's 5-step test for decentralized blockchains, offering a structured framework with regulator guidance, developed through engagement with regulatory bodies.
Lawmakers engaged with regulators, including the SEC, for over a year to incorporate feedback into the bill, signaling a collaborative effort towards comprehensive digital asset regulation.
#us-house-of-representatives #digital-asset-regulation #cftc-authority #sec-jurisdiction #regulatory-engagement
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