The House Just Approved The FIT21 Bill!

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

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

Nicely, that vote occurred.

And the invoice was handed.

As a recap, the invoice was referred to as the ‘Monetary Innovation and Know-how 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 control varied features of the crypto business

Create client protections for the 52 million Individuals who personal crypto

Give web3 builders trying to launch tasks 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 trying promising.

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

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