Democratic lawmakers slam new crypto bill for pandering to crypto giants

Odaily Planet Daily News The House Financial Services Committee discussed the "21st Century Financial Innovation and Technology (FIT) Act" today. Democratic Congressman Maxine Waters criticized the bill as a "wish list" for the encryption industry. She accused the encryption industry of refusing to comply with the current There are laws and arguing that these provisions provide insufficient protection for consumers and investors while doing nothing about it. Committee chairman and staunch supporter of the bill, Patrick McHenry, dismissed arguments that the bill lacks consumer or investor protections. He said the bill might not be perfect, but it was "better at worst" than the current regulatory regime. (decrypt)