The bill seeks to clarify jurisdictional boundaries for regulators and provide market certainty for innovators and investors by distinguishing digital assets from the securities contracts they may be tied to. Current law does not separate assets from their associated investment contracts, creating compliance challenges for decentralized projects that evolve beyond initial fundraising stages.

“Entrepreneurs need clarity to calculate risk accurately, create new investment opportunities, and grow our economy,” Emmer said, emphasizing that unclear definitions hinder innovation. Soto added that the bill would “maximize the potential of virtual currencies” while protecting investors and consumers.

Industry groups, including Coin Center and the Blockchain Association, endorsed the legislation. Peter Van Valkenburgh of Coin Center called it “the smartest approach” to applying securities law to digital assets, while Kristin Smith of the Blockchain Association said it offers “clear rules of the road” for companies.

The act defines “investment contract assets” as distinct from securities offerings, enabling tokens to transition from regulated securities to commodities as projects decentralize. Advocates argue this prevents outdated frameworks from stifling utility-driven token use.

Previously included in the House-passed FIT21 Act of 2024, the revived proposal reinforces efforts to position the U.S. as a leader in blockchain innovation. Backers say it balances consumer protections with fostering competition in the global digital economy.

The Chamber of Digital Commerce and Crypto Council for Innovation also support the bill, citing urgent needs for legal frameworks. Emmer’s office noted that the legislation is technology-neutral, applying to all assets tied to investment contracts

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