Blockdaemon: The United States may clarify the regulatory framework for digital assets in 2025, and the FIT21 bill is expected to be signed

On October 28th, Blockdaemon, a blockchain infrastructure company, released a new research report stating that as the 2024 US presidential election approaches, there is hope for a breakthrough in the regulatory landscape for digital assets by 2025. The report notes that currently two key regulatory policies are in the legislative process: the proposal to repeal SAB 121 and the milestone "21st Century Financial Innovation and Technology Act" (FIT21).

Of these, the FIT21 bill was passed in the House of Representatives in May 2024 with bipartisan support. Earlier reports stated that the SEC had granted Bank of New York an exemption from SAB 121 last month, and it is expected that other financial institutions will also receive similar exemptions. Blockdaemon predicts that the Senate's delay in reviewing the FIT21 bill is mainly due to the consideration of launching it after the new government takes office. With digital asset issues receiving unprecedented attention in this presidential election, it is expected that the US will establish a more comprehensive institutional framework for digital asset regulation by 2025, seeking a balance between industry innovation and risk management.