House Democrats will not face pressure to oppose two bills supporting cryptocurrency.

Members of the Democratic Party in the United States House of Representatives will not be compelled to vote against two bills that could have a positive impact on the crypto industry. An email from Democratic Party leaders, shared by Politico, shows that the party did not urge its members to vote against the Financial Innovation and Technology for the 21st Century (FIT21) Act and the CBDC Anti-Surveillance State Act. FIT21 aims to clarify the classification of cryptocurrencies as commodities or securities and would give regulatory control of the sector to the US Commodity Futures Trading Commission (CFTC). The US crypto industry and lobbyists have supported the bill. The CBDC Anti-Surveillance State Act, on the other hand, would prevent the Federal Reserve from issuing a central bank digital currency. Democratic Representatives Maxine Waters and David Scott are both opposed to FIT21, and Waters is also against the CBDC act. The email from Democratic Party leaders expressed concerns about certain provisions of FIT21, including its impact on the traditional securities market and the potential for fraud and market manipulation. They also argued that preventing the issuance of CBDCs would undermine the primacy of the US dollar. The floor debate and passage of FIT21 is expected to take place on Wednesday, May 22.