US Crypto Legislation Nears Critical Support, Says Congressman

According to Foresight News, Decrypt reports that House Majority Whip Tom Emmer believes that support for U.S. crypto legislation has reached a critical point. Emmer suggests that the FIT21 bill, a stalled crypto market structure proposal, could become law before the holiday season. The FIT21 bill aims to establish a federal regulatory framework for digital assets, overseen jointly by the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC). This legislation would allow issuers to self-certify their assets as digital commodities, a move previously criticized by President Joe Biden and SEC Chairman Gary Gensler.