House Majority Whip Tom Emmer believes that support for crypto legislation in the United States has reached a critical mass. He suggests that the FIT21 crypto market structure bill, which has been stalled, could become law before the holidays. FIT21 aims to establish a federal framework for the regulation of digital assets and would be overseen by the Commodity Futures Trading Commission and the US Securities and Exchange Commission. The bill has faced criticism from President Biden and SEC Chair Gary Gensler. While FIT21 has passed a vote in the House with the support of 71 Democrats, it has since stalled in the Senate. However, Emmer believes that elements of the bill could be attached to an end-of-year spending bill, which would streamline the process. If that does not happen, he still expects to see movement on the bill in the next year.



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