The U.S. House of Representatives is about to release a revised draft of the cryptocurrency market structure bill

2025-03-27 08:15:37

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ChainCatcher news, according to The Block, French Hill, chairman of the U.S. House Financial Services Committee, stated at the blockchain summit in Washington that a revised draft of the new cryptocurrency market structure bill will be announced in the coming days. This is an updated version of the "Financial Innovation and Technology for the 21st Century Act" (FIT21) that was passed by the House last year.

The bill has not yet been formally introduced in this Congress, but it was passed in the House last year with the support of 71 Democratic lawmakers, including former Speaker Nancy Pelosi. Hill mentioned that the current draft has been adjusted based on various "technical opinions." The bill aims to grant the Commodity Futures Trading Commission (CFTC) more regulatory authority and funding to oversee the cryptocurrency spot market and "digital commodities," such as Bitcoin, and further clarify the role of the Securities and Exchange Commission (SEC).

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