U.S. House Republicans propose new digital asset regulation bill "21st Century Financial Innovation Technology Act"

ChainCatcher News, House Republicans have introduced a new digital asset regulatory bill, the "21st Century Financial Innovation and Technology Act," with sponsors including House Agriculture Committee Chairman Glenn Thompson, Representatives Tom Emmer, and Warren Davidson. This bill is one of several introduced in recent years aimed at establishing comprehensive rules for digital assets, first drafted in early June, and seeks to create a regulatory pathway for cryptocurrency exchanges to register with the U.S. Securities and Exchange Commission (SEC).

Representative Dusty Johnson stated, "The crypto industry hopes that our collaborative bill gives both the Commodity Futures Trading Commission (CFTC) and the SEC a seat at the table. Our bill establishes clear principles to ensure financial security and certainty for digital asset developers as they continue to innovate." On page 10, the revised bill excludes a range of traditional securities from the definition of "digital assets," such as stocks, bonds, transferable shares, and any profit-sharing agreements or participation certificates.