According to a report from 深潮 TechFlow on May 2, sources indicated that the Republican leadership of the U.S. House Financial Service Committee and the Agriculture Committee will release a discussion draft before the hearing on May 6, proposing an important regulatory framework for digital assets. The draft is expected to be similar to the "Financial Innovation and Technology for the 21st Century Act" (FIT 21) passed by the House last year, which aims to clarify when digital assets are to be regulated by the SEC, CFTC, or both.



The senior executive of the Blockchain Association stated that the draft "is 90% similar to FIT 21," but the Trump family's involvement in the cryptocurrency field "has complicated the legislative work."
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