US lawmakers urge Senate to pass FIT21 crypto bill before election

Outgoing U.S. Republican Congressman Patrick McHenry has pressured the Senate to pass the FIT21 crypto regulation bill before the November presidential election.
On May 22, the 21st Century Financial Innovation and Technology Act (FIT21) passed the House of Representatives, with the approval of 71 Democrats and 208 Republicans.
"This should be a wake-up call to the Senate that they need to get on with this," the chairperson of the House financial services committee, who will retire from Congress in January, told Bloomberg's Balance of Power magazine on May 30.