The U.S. House Republicans will release a draft of a cryptocurrency bill by May 6.

BlockBeats News, May 2nd, according to The Block, senior Republicans from the U.S. House Financial Services Committee and Agriculture Committee will release a discussion draft on May 6th ahead of a hearing, outlining a significant regulatory framework for digital assets. The draft is expected to be similar to last year's House-passed "Financial Innovation and Technology Act" (FIT 21), which aims to clarify when digital assets are regulated by the SEC, CFTC, or both. A senior executive at the Blockchain Association stated that the draft is "90% similar to FIT 21," but the Trump family's involvement in the crypto space has "complicated legislative efforts."