Budzinski Votes for Bipartisan Digital Asset Deal

May 22, 2024
Press

WASHINGTON, D.C. — Today, Congresswoman Nikki Budzinski released the following statement after voting for the bipartisan Financial Innovation and Technology (FIT) for the 21st Century Act, which will provide an initial regulatory framework for digital assets and blockchain technology to register and operate in the United States.

“Throughout my time considering a digital currency regulatory framework on the House Agriculture Committee, and through our oversight of the Commodity Futures Trading Commission (CFTC), my primary focus has been protecting consumers. 

“During our markup and in subsequent negotiations, I was proud to strengthen this bill by closing loopholes that threatened the rights of customers and adding protections against volatility. The bipartisan measures I successfully included give additional bankruptcy support to smaller investors, allow customers to access their funds in the event of a collapse and strengthen minimum capital requirements.

“This deal is just an initial step forward to close the regulatory gap so we can continue to foster digital innovation and protect consumers against bad actors. There is more work to be done. This bill could be further strengthened by providing an explicit private right of action. I’m glad that the consumer protections I’ve secured put the Senate in an even stronger negotiating position to ensure the regulatory framework hits the mark in protecting the most vulnerable.”

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