FIT for the 21st Century Act Brings Digital Assets into the Regulatory Perimeter
Washington, DC — The House Financial Services Committee today passed the Financial Innovation and Technology (FIT) for the 21st Century Act to provide clarity for the digital asset ecosystem and create consumer protection. Rep. Warren Davidson (R-OH) cosponsored the FIT for the 21st Century Act and serves as Vice Chair for the Subcommittee on Digital Assets, Financial Technology and Inclusion.
“The status quo is not solving problems, it’s not serving people, and it’s leaving America weaker by the day for failing to provide clarity in the digital assets market. We now have the opportunity to harness and embrace this next generation of technology in the United States,” said Rep. Warren Davidson. “Since I first came to Congress in 2016, clarifying the digital assets space has been a key priority, and I’m proud to work with my colleagues to advance this important legislation.”
Rep. Davidson previously introduced the Token Taxonomy Act in prior Congresses to establish clarity for the digital asset ecosystem. The FIT for the 21st Century Act was led by led by House Financial Services Committee Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (R-AR), House Agriculture Committee Chairman Glenn “GT” Thompson (R-PA), and cosponsored by House Majority Whip Tom Emmer (R-MN) and Rep. Dusty Johnson (R-SD).
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