According to Decrypt, House Majority Whip, Congressman Tom Emmer, believes that U.S. support for crypto legislation has reached a critical point, and even FIT21 (a stalled crypto market structure bill) may become law before the holidays. FIT21 will establish a federal framework for digital asset regulation, jointly supervised by the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC). The bill, which will allow issuers to self-certify assets as digital commodities, has been criticized by U.S. President Biden and U.S. SEC Chairman Gary Gensler.