According to WuSaid, House Majority Whip, Representative Tom Emmer, believes that support for encryption legislation in the United States has reached a critical point, and even FIT21 may become law before the holiday.

FIT21 will establish a federal framework for digital asset regulation, with joint oversight by the CFTC and the SEC. The bill, which would allow issuers to self-certify assets as digital commodities, has previously been criticized by U.S. President Biden and SEC Chairman Gary Gensler.