CoinDesk held its annual Consensus conference in Austin, Texas last week, where we heard from lawmakers and regulators, developers, company execs and all sorts of other people in and around this sector. One topic of discussion: the Financial Innovation and Technology for the 21st Century Act. Its passage through the House sent a surge of excitement through the crypto industry as a sign of progress, even if it's not likely to become law just yet.
"Right now my best bet would be if we get this done this year, it's probably more likely during the lame duck once the dust settles and everybody who's wearing their jerseys now recognizes we got to get moving on," he said. Sen. Ron Wyden , one of the Democrat lawmakers who voted to overturn the Security and Exchange Commission's Staff Accounting Bulletin 121, said of FIT21 that"what you really need is a regulatory framework."
A group of lawmakers and a group of banking organizations sent two separate letters to U.S. President Joe Biden on Friday, asking him to sign House Joint Resolution 109 to overturn the SEC's Staff Accounting Bulletin 121 instead of vetoing it, as he had threatened to.