The House Just Approved The FIT21 Bill!

TL;DR

Full Story

Let’s cap issues off with our third large piece of fine information for the week.

Bear in mind on Wednesday morning after we wrote about how “One of the necessary payments for crypto (ever) is about to be voted on” (that was actually the title of the piece)?

Properly, that vote occurred.

And the invoice was handed.

As a recap, the invoice was known as the ‘Monetary Innovation and Expertise for the twenty first Century Act’ (aka ‘FIT21’).

The three BIG issues it goals to do are:

Make clear questions round which companies have the duty to manage numerous points of the crypto trade

Create shopper protections for the 52 million People who personal crypto

Give web3 builders trying to launch initiatives within the U.S. clear guidelines to play by.

Once more, just like the CBDC invoice from the earlier article, the FIT21 invoice has solely handed the Home up to now and nonetheless must get by the Senate.

However heck, issues are wanting promising.

And if/when this invoice passes the Senate, we’ll lastly have some clear guidelines to play by > which in principle ought to result in extra innovation > which improves the economic system and attracts extra liquidity (cash) to the house.

Who’s up for a operating chest bump forward of this lengthy weekend?