The Democratic leader of the House of Representatives will not oppose two bills supporting cryptocurrency

Media reports, according to an email shared by Politico, Democratic leaders did not urge their members to vote against two cryptocurrency-supporting bills expected to be soon submitted to the House of Representatives. The Democratic leaders anticipate that HR 4763 and HR 5403 will be introduced this week. Therefore, even though they didn't force House Democrats to vote against it, they still raised their own concerns through the bill. The HR 476 Act, also known as the Financial Innovation and Technology (FIT21) Act of the 21st Century, will provide a new regulatory framework for the industry. If passed, FIT21 would establish the Commodity Futures Trading Commission (CFTC) as the primary regulator of cryptocurrencies and clarify whether digital assets are securities or commodities. According to this email, Democratic leaders believe that the wording of this bill "has disrupted decades of legal precedents and case law, bringing uncertainty to our traditional securities market."