FIT21 Passed - in a landslide

It passed the house, off to the senate - but given this land slide... it should pass there also.

Thank you to all here who made the call today.

This puts the SEC and GARY GENSLER in hot water without control.

H.R. 4763, known as the Financial Innovation and Technology for the 21st Century Act, is a bill introduced in the United States Congress.

This bill aims to regulate digital assets by assigning regulatory authority over cash or spot markets for digital commodities to the Commodity Futures Trading Commission (CFTC). It also establishes the conditions under which the Securities and Exchange Commission (SEC) would regulate a digital asset as a security.

The bill classifies a blockchain as decentralized if no person or entity has unilateral authority to control it or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or its voting power.

The bill also provides for certain exceptions to SEC regulation for digital assets that meet specific criteria. The CFTC and SEC are required to jointly issue rules defining terms and exempting dually registered exchanges from duplicative rules.