The Republican Party of the U.S. House of Representatives will release a draft digital asset bill before May 6.

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The Republican leadership of the House Financial Services Committee and the Agriculture Committee will release a discussion draft prior to the hearing on May 6, aiming to establish a significant regulatory framework for digital assets. The draft is expected to be similar to the "Financial Innovation and Technology for the 21st Century Act" (FIT 21) passed by the House last year, which aims to clarify when digital assets are regulated by the SEC, CFTC, or both. Ron Hammond, a senior director at the Blockchain Association, stated that he has not yet seen the specific version of the discussion draft, but to his knowledge, the draft is about 90% similar to the FIT 21 bill. (The Block)

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