Foresight News cites Decrypt in reporting that House Majority Whip Tom Emmer believes support for cryptocurrency legislation in the U.S. has reached a pivotal moment. Emmer indicated that the FIT21 bill, which has stalled, could potentially be enacted into law before the holiday season. The FIT21 proposal seeks to create a federal regulatory framework for digital assets, to be jointly managed by the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC). This legislation would permit issuers to self-certify their assets as digital commodities, a concept that has faced criticism from President Joe Biden and SEC Chairman Gary Gensler.