The crypto lobby cheered when the House passed the Financial Innovation and Technology for the 21st Century Act, or FIT21, earlier this year—but that was then, and this is now.
Following Donald Trump’s sweeping victory, and a red wave across Congress that includes many pro-crypto lawmakers, the crypto lobby is poised to trash the bipartisan market structure bill in favor of legislation even more favorable towards the industry, sources told Decrypt.
FIT21 sought to create a federal framework for cryptocurrency regulation, and establish jurisdictional boundaries between the Commodity Futures Trading Commission and the Securities and Exchange Commission. In short, it would curtail the SEC’s authority over digital assets that meet…
Nov 06 2024
