US Congressman Mike Flood pushes for cryptocurrency policy reform in Congress

Republican Congressman Mike Flood from Nebraska has been pushing for cryptocurrency policy reforms in Congress and has successfully passed two important bills. Flood co-sponsored the "Financial Innovation and Technology Act of the 21st Century" (FIT21) and proposed the repeal of the Securities and Exchange Commission Rule SAB-121, both of which received historic votes in May and won unexpected bipartisan support.

Flood entered Congress through a special election in 2022 and, despite his limited experience, his rich experience in the Nebraska legislative body has led him to focus on the cryptocurrency field. He emphasized that cryptocurrencies are attractive to the younger generation and hopes to ensure that state governments play an important role in cryptocurrency regulation.

Flood also mentioned that Representatives French Hill and Warren Davidson played important roles in digital asset policy formulation. He hopes that in the next Congress, through FIT21 and stablecoin bills, rules will not stifle innovation and legislation will be promoted for artificial intelligence and cybersecurity.