Odaily Planet Daily News Politico reporter Eleanor Mueller posted on the X platform that people familiar with the matter revealed to him that the Democratic leaders of the House of Representatives said today that they would not oppose the House Republican encryption bill. The supervision questions sent to the members this morning showed that Representatives Maxine Waters and David Scott "strongly opposed" the legislation, but did not urge them to vote "against". Parliamentary debate and passage will take place on Wednesday. Waters, Lynch and Casten held an online briefing for the group members today. Waters will hold another meeting with SEC officials tomorrow. Waters and Scott also sent a letter to their colleagues on the bill and linked to a fact sheet, which warned: "The implementation of a 'relatively loose regulatory system' under the CFTC and the existence of 'huge loopholes' may lead to 'no primary regulators' in some areas." Earlier, the full U.S. House of Representatives planned to vote on the FIT21 Market Structure Act this week, which includes some new provisions, including regulations on when cryptocurrencies should be considered securities. The House of Representatives already has a group of pro-cryptocurrency representatives, and FIT21 is likely to pass the House smoothly, but it will face obstacles in the upper chamber. The "Financial Innovation and Technology in the 21st Century (FIT21) Act" aims to provide a clear regulatory framework for digital assets and address long-standing market supervision and consumer protection issues.
