The U.S. House of Representatives will vote on cryptocurrency regulations and anti-CBDC legislation

ChainCatcher news, House representatives are preparing to vote on two major pieces of cryptocurrency legislation. The "Financial Innovation and Technology Act of the 21st Century" (FIT), initiated by Republican representatives, and an anti-Central Bank Digital Currency (CBDC) bill will be submitted in the last week of May.

The 21st Century FIT Act, also known as HR 4763, aims to create a regulatory framework around the cryptocurrency industry. It proposes to allocate oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The anti-CBDC bill, named HR 1122, was introduced by Majority Whip Tom Emmer and aims to prohibit the Federal Reserve from issuing digital currency to consumers. Emmer criticized privacy concerns and government surveillance, arguing that the digital yuan would only exacerbate these issues.