The Chamber of Digital Commerce, representing the forefront of the digital asset and blockchain industry, wholeheartedly extends our support for the bipartisan initiative demonstrated by the Financial Technology Protection Act. This key legislation, championed by Senators Ted Budd (R-NC) and Kirsten Gillibrand (D-NY), and Representatives Zach Nunn (R-IA) and Jim Himes (D-CT), marks a crucial step towards crafting a secure and favorable environment for the evolution and integration of digital assets and blockchain technology. The bill has enjoyed robust bipartisan support over time, sailing through the House unanimously on two separate occasions in 2018 and 2019.

We applaud the introduction of an Independent Financial Technology Working Group, as stipulated by the act. This aligns well with our long-standing advocacy for a collaborative discourse between government entities and industry leaders. Such an initiative is pivotal in identifying and addressing regulatory voids, thereby positioning the United States at the helm of digital asset innovation on the global stage.

Find our one-pager on the bill here.