Odaily News French Hill, chairman of the U.S. House Financial Services Committee, said at the Blockchain Summit in Washington that a new draft revision of the Crypto Market Structure Act will be released in the next few days. This is an updated version of the '21st Century Financial Innovation and Technology Act' (FIT21) passed by the House of Representatives last year. The bill has not yet been formally introduced in this Congress, but it was passed by the House of Representatives last year, with the support of 71 Democratic members, including former Speaker Nancy Pelosi. Hill said that the current draft has been adjusted based on technical opinions from multiple parties. The bill intends to give the Commodity Futures Trading Commission (CFTC) more regulatory power and funds to oversee the crypto spot market and digital commodities such as Bitcoin, and further clarify the role of the Securities and Exchange Commission (SEC).