H.R. 4763 · 118th Congress
FIT21 crypto bill
Financial Innovation and Technology for the 21st Century Act
What it does
Moves most oversight of crypto assets from the SEC to the smaller CFTC and lets issuers self-certify that a token is decentralized.
Outcome
Passed the House on May 22, 2024. Not taken up by the Senate.
The test
| Pillar | Question | Answer | Why |
|---|---|---|---|
| Economy | Who lobbied for it, and who against? | Hurts Americans | Championed by Coinbase, a16z and crypto trade groups with record industry spending; opposed by consumer groups and the SEC. |
| Freedom | Does it protect or erode privacy, anonymity, speech, due process and the right to organize or sue? | Hurts Americans | Weakens investors' ability to sue under securities law when a token turns out to be a scam. |
Votes counted: House 279–136 on May 22, 2024. Each member's page shows how they voted.