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Fortune
Fortune
John Mitchell

The House crypto bill could be the answer to America’s regulatory soul-searching. The ball is now in the Senate’s court

(Credit: Valerie Plesch—Bloomberg/Getty Images)

Americans have embraced digital assets. The recent Cryptocurrency Adoption and Sentiment Report found U.S. digital asset ownership jumped from 30% in 2023 to 40% in 2024. This makes sense. Digital assets are delivering better financial inclusion and empowering millions of Americans—but it’s up to Congress to act. 

The U.S. House of Representatives has already risen to the occasion, passing a strongly supported bipartisan bill that would protect consumers, enhance economic mobility, foster innovation, and maintain U.S. leadership. The Financial Innovation and Technology for the 21st Century Act (FIT21) updates U.S. securities laws designed long before today’s technology advances. As digital assets continue to evolve, FIT21 assigns defined responsibilities to the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It also creates the tailored frameworks that will allow this industry to thrive in American markets.

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