FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection.

By Yvette D. Valdez, Stephen P. Wink, Adam Fovent, and Deric Behar

On May 22, 2024, the US House of Representatives (the House) passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21), with a good measure of bipartisan support: 279 votes in favor (208 Republicans and 71 Democrats) and 136 votes opposing (three Republicans…