Original article by Kristin Smith, Blockchain Association CEO
原文标题：The Financial Innovation and Technology for the 21st Century Act Is a Watershed Moment for Our Industry
Original source: Coindesk
Compiled by: Lynn, MarsBit
The U.S. regulatory landscape for digital assets has long been untenable. FIT21 represents a significant step in the right direction, writes Kristin Smith, CEO of the Blockchain Association.
The passage of the Financial Innovation and Technology Act for the 21st Century (FIT 21) by the U.S. House of Representatives is a major milestone for the digital asset industry. As head of the Blockchain Association, the leading trade organization representing the industry, I am pleased to see strong bipartisan support for an attempt to codify clear rules designed to enable responsible innovation while protecting consumers.
The regulatory landscape for digital assets in the United States has long been an untenable mess. Different federal agencies have asserted conflicting jurisdictions, creating confusion and uncertainty in the market. Meanwhile, the Securities and Exchange Commission (SEC) has taken advantage of this unstable situation and stepped up its intimidation and enforcement efforts, threatening the viability of cryptocurrencies in the United States.
This leads to further uncertainty, costly legal battles and the risk that the U.S. falls behind other regions, such as the European Union, in fostering a vibrant native cryptocurrency sector.
The status quo isn’t working for anyone—not for companies developing innovative products and services, not for investors, and certainly not for consumers. It’s time for Congress to step in, reclaim its rightful place as the engine room of economic decision-making, and draft a modern, fit-for-purpose regulatory framework.
While the legislation should be further refined when it is presented to the Senate, FIT 21 represents an important step in the right direction. It recognizes the fundamental promise of crypto and blockchain technology and strives to foster innovation while protecting consumers. This legislative approach that balances these key priorities is exactly what our industry has been advocating for. It is also what consumers are asking for.
We commend House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and House Agriculture Committee Chairman Glenn Thompson (R-N.C.) for spearheading this legislation. They spent months engaging with industry stakeholders, including Blockchain Association member companies, to understand the key issues and try to establish the right framework.
While FIT 21 is not perfect—no bill is—we will continue to advocate for productive change. Today’s vote represents undeniable progress on the path to a rational policy environment that unlocks clarity for digital assets in the United States. After a difficult 2022, we are pleased to see elected leaders supporting this critical technology, and more and more Americans want their government to support it, or at least not stand in its way.
The House vote reaffirms the growing political momentum for cryptocurrencies following positive developments such as the recent bipartisan congressional repeal of SAB 121, the SEC’s misleading and illegal accounting guidance. A recent poll showed that more and more American voters want to elect politicians who understand crypto and are willing to respect and support the technology’s development in the United States.
Cryptocurrency is likely to become a live issue in the upcoming presidential campaign, with former President Trump recently embracing the technology and making a clear case for support.
As FIT 21 moves to the Senate floor, the Blockchain Association and our members will continue to engage constructively to advocate for smart policies that promote responsible innovation and, most importantly, protect consumers. We express our sincere gratitude to House leaders for leading this watershed moment - and we look forward to maintaining crypto’s extraordinary political momentum in the months ahead.
