Over 50 Crypto Companies Rally Behind Landmark Bill for Digital Asset Regulation

A group of over 50 crypto companies and associations called the Crypto Council for Innovation signed a letter urging House leaders to support the Financial Innovation and Technology for the 21st Century Act. The bill would establish the Commodity Futures Trading Commission as the primary regulator of digital assets and divide oversight between the CFTC and SEC. It also includes consumer protections. The bill is scheduled for a floor vote next week in the House, and passage could help the US maintain leadership in financial innovation, according to the letter. The crypto industry sees this as the closest it has come to winning comprehensive regulation in the US.