FIT for the 21st Century Act is a step in the right direction

By: Reporter-Herald Letters
August 16, 2023

Last month the House Financial Services Committee and the House Agriculture Committee both passed HR 4763, the Financial Innovation and Technology (FIT) for the 21st Century Act. Rep. Pettersen and Rep. Caraveo each sit on one of the committees, and I am thankful for the bipartisan leadership they showed in passing the measure.

I believe that digital asset innovation opportunities are essential to Colorado continuing to be a leader in the tech space, and the FIT for the 21st Century Act is a step in the right direction.

It will provide much-needed clarity to the industry — creating a regulatory framework for registering and operating digital assets and blockchain technology in the United States. I think this bill strikes the right balance of addressing issues the industry faces, providing tools to punish the bad actors in the field while protecting innovation and promoting the growth of digital assets in the United States.

This is not a partisan issue. Congress needs to act now to ensure that the United States can handle this emerging technology and be a global leader.

Coloradans who work in blockchain and digital assets deserve to have the stability of regulatory clarity and an established comprehensive market structure. The FIT for the 21st Century Act is a step in the right direction, thanks to Representative Pettersen and Representative Caraveo. I hope this bipartisan measure continues to be supported by all our Colorado delegation in Congress.

Wyatt Cunningham, Fort Collins

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