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Financial Innovation and Technology for the 21st Century Act

Floor Speech

By: John Rose
By: John Rose
Date: May 22, 2024
Location: Washington, DC

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Mr. ROSE. Mr. Chair, I rise in support of H.R. 4763, the Financial Innovation and Technology for the 21st Century Act, or the FIT21.

As a member of the House Financial Services and Agriculture Committees, I am proud to support this bill. This product is a joint effort between both committees. I commend both Chairman McHenry and Chairman Thompson for working on this bipartisan legislation.

This bill confronts the litigation-heavy approach toward digital assets of the Securities and Exchange Commission led by rogue regulator Gary Gensler. Chair Gensler has blown past the SEC's statutory mandate and instead forced investors and companies to operate in the dark, thus risking the United States' standing as a world leader in digital innovation.

The Financial Innovation and Technology for the 21st Century Act will allow the U.S. to reclaim our place as a world leader in innovation and provides clear rules of the road for cryptocurrencies.

Mr. Chair, I urge Members to join me in voting ``yes.''

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