TechFlow news — On March 27, according to The Block, House Financial Services Committee Chairman French Hill (R-Arkansas) suggested at the Chamber of Digital Commerce's Blockchain Summit on Wednesday that a revised version of the market structure bill, based on last year's committee work, would be released "in the coming weeks."
The bill, known as the Financial Innovation and Technology for the 21st Century Act (FIT 21), passed the House last year with support from 71 Democratic lawmakers, including former House Speaker Nancy Pelosi (D-Calif.).
Last year's market structure legislation would grant the Commodity Futures Trading Commission (CFTC) greater authority and funding to regulate crypto spot markets and "digital commodities"—particularly Bitcoin—while setting parameters for the Securities and Exchange Commission (SEC).
