The FIT21 bill, which has received bipartisan support and successfully passed the House of Representatives, is now encountering hurdles in the Senate. The legislation aims to define the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding digital assets. Joe Biden's administration has raised concerns about potential regulatory gaps within the bill that could impact market stability. SEC Commissioner Hester Pierce commented on Congress' growing interest in cryptocurrency legislation, attributing it to dissatisfaction with the SEC's lack of clarity for crypto firms.
Challenges and Debates Surrounding the FIT21 Bill
by Giorgi Kostiuk
2 years ago
0
Other news
Market Reactions to Fed Rate Discussions Impacting Crypto Valuations
Market reactions were swift, with cryptocurrencies such as BTC and ETH reflecting sensitivity to rate shift discussions.
Bitcoin Holds Above Critical Support Level
Bitcoin is under short-term pressure but remains stable above the critical 80,000 support level, indicating a manageable correction.
Securitize Achieves 841% Revenue Growth as It Merges with Cantor SPAC
Securitize reports an 841% revenue growth, reaching $556 million, as it prepares for a merger with Cantor SPAC.
White House Instructs Agencies to Prepare for Shutdown
White House instructs federal agencies to prepare for an orderly shutdown due to Congress missing the funding deadline.
Zcash Faces Key Support Test Amid Governance Changes
Zcash is testing major support levels while undergoing governance changes aimed at improving stability.
ZKP Emerges as Leading Crypto for AI Infrastructure
ZKP, a privacy-focused AI network, is gaining attention for its potential in the digital asset market.
Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter