Milken Institute Statement on the US House Passage of the Financial Innovation and Technology for the 21st Century Act

“The bipartisan passage of H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (“FIT21 Act”), is a welcome step to build our next generation of financial infrastructure,” said Nicole Valentine, FinTech Director, Milken Institute. “Regulatory certainty and clarity for financial innovation are critical to the United States financial system’s growth, competitiveness, and resilience. The FIT21 Act supports the responsible innovation of digital assets and provides the clarity and guidelines necessary to innovate, build, and invest with a degree of certainty. We see promise in the growth of digital assets and blockchain technology to promote financial inclusion and economic mobility. The US House passage of the FIT21 Act signals to the world that the United States is ready to take the lead in setting global standards in this evolving frontier of finance.”