House Passes FIT21 Act 279-136 with 71 Democrats in Favor

May 22, 2024, 07:56 PM

The U.S. House of Representatives has passed the Financial Innovation and Technology for the 21st Century Act (FIT21), also known as HR4763, with a vote of 279-136, including support from 71 Democrats. This bipartisan legislation aims to provide a comprehensive regulatory framework for digital assets, delineating responsibilities between the SEC and CFTC. The bill is seen as a significant step towards protecting consumers, fostering innovation, and ensuring the U.S. remains a leader in blockchain technology. The FIT21 Act, voted on the House floor slightly after 4:30PM, will now advance to the Senate for further consideration.