According to an email shared by Politico, Democratic leaders did not urge their members to vote against two pro-cryptocurrency bills expected to be brought to the House soon. Democratic leaders expect HR 4763 and HR 5403 bills to be submitted this week. So, while not forcing House Democrats to vote against, they raised their own questions through the bills.
HR 476, the Financial Innovation and Technology for the 21st Century (FIT21) Act, would provide a new regulatory framework for the industry. If passed, FIT21 would establish the Commodity Futures Trading Commission (CFTC) as the primary regulator for cryptocurrencies and clarify whether digital assets are securities or commodities.
According to the email, Democratic leaders argued that the bill's wording "undermines decades of legal precedent and legal precedent law, thereby creating uncertainty in our traditional securities markets."
House Democratic leaders will not oppose two pro-cryptocurrency bills
2024-05-22 00:08:11
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