U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support
Powered by @unfoldedThe U.S. House of Representatives has approved a bill to establish regulations for digital asset markets, marking a significant legislative accomplishment for the crypto industry.
The bill, known as the Financial Innovation and Technology for the 21st Century Act (FIT21), received bipartisan support, with Democrats crossing party lines to vote in favor.
The legislation aims to regulate the U.S. crypto markets, provide consumer protections, and define the classification of crypto tokens as securities or commodities.
The bill now moves to the U.S. Senate, where its future is uncertain due to a lack of counterpart legislation and unclear support for the effort.