“I
still
remain
hopeful
we
can
at
least
get
FIT
done,”
he
said.
Stablecoin
legislation
will
wait
until
next
year,
and
if
FIT21
doesn’t
pass
in
2024,
it
will
also
pass
in
2025,
Flood
emphasized.
“We
have
serious
people
working
in
financial
innovation
that
can
create
a
lot
of
jobs,
generate
wealth,
cement
America
even
more
as
the
world’s
financial
juggernaut,”
he
said.
“But
there
are
pitfalls,
and
there
are
things
to
watch
out
for,
and
regulators
and
lawmakers
need
to
make
sure
we’re
building
a
foundation,
but
not
an
overly
prescriptive
set
of
rules.
So
I
think
it’s
hard
to
sit
here
and
not
get
excited
about
some
of
the
innovation
that’s
happening,
but
at
the
same
time,
how
are
we
going
to
regulate
it?
How
are
we
going
to
ensure
that
the
innovation
survives
our
regulations?”
