At Least 8 House Dems Back FIT21 Bill Seeking Crypto Sector Regulatory Framework

Some Democrats are expressing support for FIT21, which could provide the regulatory clarity that many companies in the booming crypto sector have been asking the SEC for. (Credit: Jernej Furman/flickr.com)

KEY POINTS

• GOP supporters said the bill was a chance to provide consumer protections and regulatory clarity
• Rep. Himes, a crypto skeptic, said the US deserves "better than the status quo"
• Some crypto figures have since called on Americans to urge their representatives to vote Yes

Several U.S. House Democrats have expressed support for a bill that seeks to establish a regulatory framework for the cryptocurrency industry, signaling a shifting tone among Democratic Party lawmakers who have largely been hard on the digital assets sector.