The House Financial Services Committee (HFSC) approved a slew of proposals related to digital asset regulation last month, of which any could be the first piece of crypto-specific legislation signed into U.S. federal law.
Here’s a summary of the differences between the most important bills, and what each could mean for crypto as a whole.
4 Crypto Bills: A Summary
One of the most high-profile bills to score approval was the Financial Innovation and Technology for the 21st Century Act (aka FIT 21), which received bipartisan support (all Republicans + 6 Democrats) from the HFSC last week.
The bill would clear confusion about what jurisdiction the Commodities and Futures Trading Commission (CFTC) has over digital assets, versus the Securities and Exchange Commission (SEC).
Though many Democrats considered the bill to be friendly to the industry, others believed it was a major step up from the status quo, and would help “create clarity where none exists.”
The following day, the commit
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