US lawmakers plan to include legal protection for NFTs in the revised crypto bill

Odaily News Two U.S. congressmen are pushing to include legal protections for NFTs in a wide-ranging bill that would create a more rational regulatory framework for digital assets.
Rep. William Timmons said he is trying to include the New Frontiers in Technology Act (NFT Act) in a modified version of the so-called Financial Innovation and Technology Act for the 21st Century (FIT21), which passed the House of Representatives last year but has not yet been approved by the Senate. The proposed law would for the first time establish clear rules for digital asset regulation by dividing the responsibilities of agencies such as the CFTC and the SEC. Since FIT21 was passed in the last Congress, it will again require approval from House lawmakers.
The NFT Act, introduced by Timmons and Rep. Ritchie Torres, D-N.Y., in December, would designate certain NFTs as non-securities, covering artwork, video game assets and memberships, among other consumer areas outlined in the bill text. (Decrypt)