Sixty crypto organizations are backing a market structure bill that is teed up for a vote next week.

The signers urged House lawmakers to pass the bill in a letter led by the Crypto Council for Innovation and sent to House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries on Thursday. FIT21 would raise "new compliance challenges" for crypto firms, but clear rules are needed, the groups said.

"Currently, digital assets firms are instructed to somehow comply with U.S. securities laws that were designed nearly 100 years ago without consideration of the technological advances of today, including the ability for transactions to move at the speed of the internet," they said in the letter.

House lawmakers will vote on the Republican-led Financial Innovation and Technology for the …