Press Releases

Today, Congressman Wiley Nickel (NC-13) issued the following statement after the Financial Innovation and Technology (FIT) for the 21st Century Act passed in the U.S. House of Representatives:

“I’m proud to see this bill pass with 71 Democrats voting yes, including Speaker Emerita Nancy Pelosi (CA-11), House Democratic Caucus Chair Pete Aguilar (CA-33), and Democratic Whip Katherine Clark (MA-5). This is a big deal, marking the first time Congress has ever voted on a regulatory structure for crypto,” said Congressman Wiley Nickel. “Today’s floor vote sends a clear message that our priority lies in protecting consumers, cementing the U.S. as a global leader in finance and technology, and promoting an innovative and inclusive financial future.”

Congressman Nickel was one of three House Democrats to cosponsor the bill, which would establish a clear and functional federal regulatory framework over digital asset markets to protect consumers and encourage innovation.

The FIT for the 21st Century represents a bipartisan effort to regulate centralized intermediaries in the digital asset markets, prevent the next FTX, safeguard consumers, cement the US as a global leader in finance and technology, and promote a secure, innovative, and inclusive financial future.

Earlier this year, Congressman Nickel was one of six House Democrats on the House Financial Services Committee to vote for the bill during markup. During markup, Congressman Nickel was applauded by Financial Services Committee Chair Patrick McHenry (NC-10) and Chair of the Subcommittee on Digital Assets French Hill (AR-02) for his bipartisan work to secure important provisions to safeguard consumers, promote innovation, advance U.S. national security, and authorize additional funding for effective implementation of this legislation. 

The FIT for the 21st Century Act includes an amendment introduced by Congressman Nickel and supported by Financial Services Committee Chair Patrick McHenry and Ranking Member Maxine Waters expressing the sense of Congress that the US should seek to foster advances in blockchain technology to improve our financial system and create more fair and equitable access to financial services for everyday Americans.

Congressman Nickel’s remarks during debate on the House floor can be viewed HERE.