PANews reported on February 7 that according to Decrypt, two U.S. congressmen are pushing to include legal protection for NFTs in a broad bill to create a more reasonable regulatory framework for digital assets. South Carolina Republican Congressman William Timmons said he was trying to include the New Frontiers in Technology Act (NFT Act) in a revised version of the so-called 21st Century Financial Innovation and Technology Act (FIT21), which was passed by the House of Representatives last year but has not yet been approved by the Senate.

The NFT Act, introduced by Timmons and Rep. Ritchie Torres, D-N.Y., in December, would designate certain NFTs as non-securities, covering artwork, video game assets, and memberships, among other consumer areas outlined in the bill text. The bill would also direct the U.S. Comptroller General to study whether NFTs can be used in a commercial setting as representations of documents, identification, or even government records.

Previously, under the leadership of former SEC Chairman Gary Gensler, NFTs were largely in a legal gray area. Now, within the SEC, Republican commissioners believe that many enforcement actions against NFT projects under Gensler’s authorization are unjustified.