Republican members of the U.S. House of Representatives plan to unveil an encryption bill that may be linked to the stablecoin legislation.

[Republicans in the U.S. House of Representatives plan to unveil a crypto draft, possibly linked to the stablecoin bill] Sources say that Republican leaders from the U.S. House Financial Services Committee and the Agriculture Committee will unveil a discussion draft before the hearing on May 6, which aims to establish an important regulatory framework for digital assets. The draft is expected to be similar to the “Financial Innovation and Technology Act of the 21st Century” (FIT 21) passed by the House last year. The bill aims to clarify when digital assets are regulated by the SEC, CFTC, or both. A senior executive at the Blockchain Association stated that the draft is “90% similar to FIT 21,” but the Trump family’s involvement in the crypto space “has complicated the legislative work.”