Congressmen Push for ‘Crucial’ NFT Protections in Revised Crypto Bill – BitRss

Two U.S. congressmen are pushing to include legal protections for NFTs in a wide-ranging bill that would create a more sensible regulatory framework for digital assets.

Rep. William Timmons (R-SC ($0.00)) told Decrypt on Tuesday that he is trying to get the New Frontiers in Technology, or NFT ($0.00) Act, included in an altered version of the so-called Financial Innovation and Technology for the 21st Century Act (FIT21), which was passed by the House of Representatives last year but has yet to gain Senate approval. 

On Tuesday, Senate Banking Committee Chairman Tim Scott (R-SC) said he’s adamant that crypto markets structure and stablecoin bills will be passed in the Senate within the first 100 days of Donald Trump’s presidency.

The proposed law would, for the first time, establish clear rules for the regulation of digital assets by delineating the responsibilities of the Commodity Futures Trading Commission and the Securities and Exchange Commission, among other things. And since FIT21 was passed during the last Congress, it will need House lawmakers’ stamp of approval a…