PANews reported on May 22 that according to Prospect, sources revealed that former U.S. House Speaker Nancy Pelosi is considering supporting a Republican-backed cryptocurrency bill, the 21st Century Financial Innovation and Technology Act (FIT 21), when the House votes this week. Pelosi is no longer the leader of the Democratic Party, but her views still carry weight among House Democrats. She also remains one of the most prolific fundraisers in the Democratic Party, and the cryptocurrency industry has provided a lot of campaign funds in the past two election cycles.
If Pelosi supports the bill, she would be going against the Financial Services Committee's ranking Democrat, Rep. Maxine Waters (D-CA), and another senior member of Pelosi's California delegation, Brad Sherman. They all oppose FIT 21. In communications to House Democrats, leadership did not indicate it would force a vote on the bill, only that Waters and other senior members "strongly" oppose it. The bill is currently scheduled for a full debate and vote later Wednesday.