Nebraska Rep. Mike Flood has played a crucial role in shaping cryptocurrency policy in Congress, co-sponsoring two key pieces of legislation. The Financial Innovation and Technology for the 21st Century Act (FIT21) and a proposal to repeal the Securities and Exchange Commission rule known as SAB-121 have both received bipartisan support. FIT21 allows cryptocurrency projects to certify their tokens as commodities, moving them from the SEC's regulatory purview to the Commodity Futures Trading Commission. Flood's focus on the crypto industry stems from his time in the Nebraska Legislature Banking Committee, where he developed the Nebraska Financial Innovation Act.