Us House Of Representatives, Digital Asset Regulation Amendment Acceleration…Fit21 Bill Hearing Promotion

French Hill Congressman Mentioning The Preparations For The Amendment Of FIT21 (Source: @EleanorTerrett, X)

The United States House Of Representatives Is Speeding Up The Legislative Process For Regulating The Cryptocurrency Market. The Financial Services Committee Is Preparing An Amendment To The 'FIT21' Bill, Which Aims To Establish A Digital Asset Regulatory Framework, Focusing On Asset Classification, Supervisory Authority, And The Scope Of Issuer Liability.

Crypto America Host Eleanor Terrett Reported On The 24th (Local Time) On X, Reiterating The Remarks Of The Vice Chair Of The House Financial Services Committee, French Hill, Stating That "Congressman Hill Has Proceeded With Bill Amendments By Receiving Technical Advice From The Cryptocurrency Industry, The SEC (Securities And Exchange Commission), And The CFTC (Commodity Futures Trading Commission) Throughout The Easter Holiday."

Congressman Hill Announced, "We Will Soon Release The Draft Amendment And Plan To Hold Hearings Within A Few Weeks." He Pointed Out The Parts With The Greatest Focus In This Amendment Are 'Clear Classification Standards For Digital Assets', 'Authority Allocation Between Supervisory Agencies', And 'Legal Liability Of Token Issuers'.

The FIT21 Bill Has Been Continuously Amended Since It Was First Presented Last Year, Through A Process Of Balancing Opinions Between The Cryptocurrency Industry And Regulators. This Bill Is An Attempt To Establish A Clear Regulatory Framework In The Cryptocurrency Market, Including Sensitive Issues Such As Jurisdictional Divisions Between The SEC And The CFTC, Exchange Registration Requirements, And Issuer Liability Provisions.

The Draft Of The Amendment Will Be Released Shortly, And The Full Interview With Congressman Hill Is Scheduled To Be Broadcast On The Crypto America Channel On The 30th. If This Bill Advances To Official Legislative Discussions, It Is Expected To Have A Significant Impact On The Regulatory Direction Of The United States Cryptocurrency Market.