Former Treasury Official Graham Steele Gets Pushback On FIT21 Take After DIFA Petition Criticism
Former U.S. Treasury official Graham Steele is receiving backlash after he took to X Monday morning to scrutinize support for the Financial Innovation and Technology for the 21st Century Act (FIT21) ahead of its likely vote on Wednesday.
Steele’s X post came in response to a social media petition created by Digital Innovation For America (DIFA) supporting the bill, claiming that “the best way to fight Big Tech is with Blockchain technology.”
Calling the written request “pretty sneaky,” Steele noted that the highly-anticipated crypto bill does not include a prohibition on “Big Tech.”
“This petition about the FIT 21 Act uses progressive framing, claiming that the bill fights against “‘Big Tech,’” Steele said. “FIT 21 actually creates a light-touch regulatory framework for crypto, largely outside securities laws.“
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