According to BlockBeats, on June 26, Republican Congressman Mike Flood of Nebraska pushed for cryptocurrency policy reform in Congress and successfully pushed for the passage of two important pieces of legislation. The Financial Innovation and Technology Act of the 21st Century (FIT21) and the proposal to repeal Securities and Exchange Commission Rule SAB-121, co-sponsored by Flood, were passed in a historic vote in May, winning unexpected bipartisan support.
Flood entered Congress through a special election in 2022. Although he is a junior, his extensive experience in the Nebraska Legislature prompted him to pay attention to the cryptocurrency field. He emphasized that cryptocurrencies are attractive to the younger generation and hopes to ensure that the state government plays an important role in cryptocurrency regulation.
Flood also mentioned that Representatives French Hill and Warren Davidson play an important role in digital asset policy making. He hopes that in the next Congress, FIT21 and the stablecoin bill will be passed to ensure that the rules do not stifle innovation and promote legislation on artificial intelligence and cybersecurity.
