House Republicans to release draft crypto bill before May 6 hearing

Top Republicans from the House Financial Services and Agriculture Committees will release a draft digital asset bill ahead of a joint hearing on May 6, focusing on crypto market regulation. The draft is expected to closely resemble the Financial Innovation and Technology for the 21st Century Act (FIT 21) passed by the House last year. According to The Block, lawmakers aim to clarify regulatory roles for the SEC and CFTC, while discussions continue over combining market structure and stablecoin legislation.