House Passes Financial Innovation and Technology for the 21st Century Act with Overwhelming Bipartisan Support

  • Press release


Name

House Passes Financial Innovation and Technology for the 21st Century Act with Overwhelming Bipartisan Support

Types

Press release

Publish date

05

Month
/

22

Day
/

2024

Year

12

:

00

am

Publisher

United States Congress

Quotes from

FIT21 will protect consumers by strengthening transparency and accountability with market participants: Digital asset developers will be required to provide accurate, relevant disclosures, including information relating to the digital asset project’s operation, ownership, and structure; and Digital asset customer-serving institutions, like exchanges, brokers, and dealers will be required to: Provide appropriate disclosures to customers; Segregate customer funds from their own; and Reduce conflicts of interest through registration, disclosure, and operational requirements.
FIT21 provides the robust, time-tested consumer protections
FIT21 will protect digital asset customer-serving institutions by: Establishing clear lines between the SEC and CFTC;

Web URL

https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409277