U.S. House Set to Vote for First Standalone Crypto Market Structure Bill
Summary
The U.S. House of Representatives is set to vote on the FIT21 bill, which aims to reshape the digital asset regulatory landscape. The bill grants the CFTC greater authority over digital commodities and creates new jurisdictional lines for the SEC. It is expected to pass with bipartisan support, but faces opposition from some lawmakers and industry groups. The bill's supporters argue that it is necessary to provide clarity and support for the crypto industry, while opponents, including SEC Chair Gary Gensler, raise concerns about potential loopholes and weakening of securities laws.
