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

Binance Sees Massive Inflow of XRP Amid Market Dynamics

Binance absorbed a massive inflow of over 31 million XRP in a single day, raising questions about potential short-term supply dynamics.

Satoshi Nakamura4 hours ago

Crypto Market Experiences Sharp Decline Amid Geopolitical and Economic Concerns

The cryptocurrency market faced a significant downturn, with Bitcoin dropping below $65,000 as traders reacted to US trade policy changes and geopolitical tensions.

Jesper Sørensen5 hours ago

Dogecoin Hits 1,100 Days at a Profit, Signaling Potential Market Shift

Dogecoin has surpassed 1,100 days at a profit, indicating a potential market shift.

Rajesh Kumar5 hours ago

Bitcoin Open Interest Plummets Amid Market Turmoil

Bitcoin's Open Interest has dropped significantly following recent market volatility, reflecting a mix of liquidations and reduced risk appetite among investors.