Please support passing FIT21
  1. United States
  2. Fla.
  3. Letter

Please support passing FIT21

To: Sen. Scott, Sen. Rubio, Rep. Moskowitz

From: A constituent in Pompano Beach, FL

May 15

I am writing to express my strong support for the Financial Innovation and Technology for the 21st Century (FIT21) Act. This comprehensive legislation provides much-needed regulatory clarity and consumer protections for the rapidly growing digital asset ecosystem. For too long, regulatory uncertainty has hindered innovation and left consumers vulnerable in this space. The FIT21 Act takes a balanced approach by establishing clear jurisdictional boundaries between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). This will allow for effective oversight and enforcement while fostering innovation. The bill also imposes robust disclosure, asset safeguarding, and operational requirements on digital asset market participants, prioritizing consumer protection. Moreover, the legislation creates a pathway for digital asset developers to raise funds and establishes a clear process for determining which digital asset transactions fall under the purview of the SEC or CFTC. This clarity is crucial for the growth and maturation of this industry. The bipartisan, bicameral effort behind this legislation is commendable, and it represents a historic step towards cementing American leadership in the global financial system of the future. I urge you to support the FIT21 Act and help position the United States as a hub for digital asset innovation while safeguarding consumers and investors.

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