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Financial Innovation and Technology for the 21st Century Act

Floor Speech

Date: May 22, 2024
Location: Washington, DC

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Mr. STEIL. Mr. Chair, I rise in support of the Financial Innovation and Technology for the 21st Century Act.

Blockchain and digital assets are transforming finance and reshaping, in particular, the way the internet works, but responsible innovators are being held back by stubborn Washington bureaucrats. It is pushing jobs and opportunities overseas.

For the first time in generations, the U.S. is at risk of missing out on leading the next wave of technology. FIT21 provides clear rules for digital assets and related businesses. It protects consumers and strengthens transparency and accountability. It establishes the United States as a technology leader.

Mr. Chair, I urge my colleagues to support the bill and bring jobs, opportunities, and innovation in digital assets to the United States.

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