Challenges and Debates Surrounding the FIT21 Bill

by Giorgi Kostiuk

2 years ago

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.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Galaxy Digital Expands into Data Centers to Mitigate Crypto Price Risks

Galaxy Digital is diversifying its business model by expanding into data centers to reduce exposure to crypto price volatility.

Li Weicheng9 minutes ago

Do Kwon May Serve Part of His Sentence in South Korea

Do Kwon, cofounder of Terraform Labs, sentenced to 15 years in the US, may serve part of his sentence in South Korea, facing up to 40 years locally.

Leo van der Veen9 minutes ago

Michael Novogratz Highlights Crypto Firms' Ties to Bitcoin Prices

Michael Novogratz highlights the ongoing correlation between crypto companies' revenues and Bitcoin prices, predicting this link will persist for several years.

Maya Lundqvist9 minutes ago

SEC Takes Action Against WhatsApp Crypto Scam Defrauding Investors

The SEC has filed charges against several companies for running a fraudulent crypto investment scheme via WhatsApp, defrauding investors of over $14 million.

Katerina Papadopoulou9 minutes ago

Crypto Analyst Predicts Bitcoin Supercycle Yet to Begin

A crypto analyst, Killa, argues that the true Bitcoin supercycle is yet to begin, emphasizing the need for a generational shift in capital from Gold to Bitcoin.