Crypto community split on FIT21 bill — is it good or bad news?
The US House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (or FIT21) on Wednesday, in a vote of 279 to 136. Marking an apparent turning point in US political opinion towards crypto, 71 Democrats voted for the bill, despite the White House voicing concerns that it “lacks sufficient protections,” and urging for “further time” for “continued collaboration.” FIT21 passes the Ho US e 279 – 136 Ho US e Democrats voting in favor of this bill: 71. That is a *huge* number of elected Democrats voting "no confidence" in the current SEC, and sending a message to the Biden administration that "anti-crypto" is a losing platform this year. pic.twitter.com/zmlD1VRQfF — Jake Chervinsky (@jchervinsky) May 22, 2024 The bill could still be blocked by the Senate before becoming law, something that some in the crypto Q US yGuF may be banking on. Crypto advocates have long been calling for regulatory clarity in the face of wh...