PANews reported on May 22 that Punchbowl News author Brendan Pedersen wrote that the White House will not issue a veto threat on the FIT for the 21st Century Act, which aims to comprehensively reform the structure of the crypto market and will be voted on today. Although the White House expressed some "concerns" about the bill, not issuing a veto threat is a major victory for crypto supporters on Capitol Hill.

Related Reading:

a16z explains FIT21: Why it helps the crypto industry

Interpreting the US Democratic Party’s crypto policy shift: Voting to overturn SAB 121 releases a positive signal for Ethereum ETF