FIT21 Bill Passes House, Aims to Clarify Crypto Regulation

May 23rd, 2024
The FIT21 bill, favoring cryptocurrencies, was approved by the House of Representatives. It grants the CFTC more authority over digital assets deemed commodities and clarifies the SEC's jurisdiction. Crypto companies will have a framework to determine if their assets are securities. The Senate's stance is uncertain, and while the White House opposes the bill, President Biden has not threatened a veto.
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