Fit21
19.7M views
9,034 Posts
Big news from Capitol Hill! The U.S. House has approved the FIT21 Bill with strong Democratic support, providing regulatory clarity and consumer protections for the digital asset ecosystem. Now, the bill heads to the Senate, where its fate is uncertain. What are your thoughts on this development, and how do you think the Senate will respond? Let's discuss the future of crypto regulation!
Hot
Latest
FIT21 Crypto Regulation Bill Advances in US House, Faces Uncertain Future in the Senate
According to Cointelegraph: The US House of Representatives has voted in favor of the Financial Innovation and Technology for the 21st Century Act (FIT21), aimed at clarifying the rules of securities and commodities regulators in overseeing cryptocurrencies. The next step for the bill is a potentially challenging path through the US Senate, where it has neither a companion bill nor a set timeline for action.
The FIT21 bill, which saw 71 Democrats and 208 Republicans vote in favor, could face robust opposition in the Senate, considering the presence of prominent crypto critics like Senator Elizabeth Warren. Post the Senate Review, if approved, the bill would proceed to President Biden's desk. The President on May 22 expressed his administration's disapproval of the bill, though it didn't specify his vetoing intention.
While Coinbase CEO, Brian Armstrong, celebrated this development as a "total victory", crypto-focused lawyer Gabriel Shapiro countered by arguing that the FIT21 could still grant the SEC "considerable power". The bill, if passed, will primarily place the control of cryptocurrencies under the Commodity Futures Trading Commission (CFTC), viewed as a more lax regulator than the SEC.
The FIT21 bill, which saw 71 Democrats and 208 Republicans vote in favor, could face robust opposition in the Senate, considering the presence of prominent crypto critics like Senator Elizabeth Warren. Post the Senate Review, if approved, the bill would proceed to President Biden's desk. The President on May 22 expressed his administration's disapproval of the bill, though it didn't specify his vetoing intention.
While Coinbase CEO, Brian Armstrong, celebrated this development as a "total victory", crypto-focused lawyer Gabriel Shapiro countered by arguing that the FIT21 could still grant the SEC "considerable power". The bill, if passed, will primarily place the control of cryptocurrencies under the Commodity Futures Trading Commission (CFTC), viewed as a more lax regulator than the SEC.
#Fit21
Fit21 is a fitness program or challenge that aims to help individuals achieve their fitness goals and develop healthy habits. The name "Fit21" suggests that the program is focused on 21 days of intense fitness training and lifestyle changes.
Here are some possible aspects of the Fit21 program:
1. *Workout routine*: A 21-day workout plan that includes a combination of cardio, strength training, and flexibility exercises.
2. *Nutrition plan*: A meal plan or nutrition guide that provides healthy eating habits and meal ideas for the 21-day period.
3. *Lifestyle changes*: Tips and guidance on how to incorporate healthy habits into daily life, such as getting enough sleep, managing stress, and staying hydrated.
4. *Accountability*: A community or support system to help individuals stay motivated and accountable throughout the 21-day program.
5. *Progress tracking*: A way to track progress, such as a mobile app or journal, to monitor workouts, nutrition, and lifestyle changes.
The goal of Fit21 is to help individuals develop healthy habits and achieve their fitness goals, and to provide a supportive community to help them stay on track.
Fit21 is a fitness program or challenge that aims to help individuals achieve their fitness goals and develop healthy habits. The name "Fit21" suggests that the program is focused on 21 days of intense fitness training and lifestyle changes.
Here are some possible aspects of the Fit21 program:
1. *Workout routine*: A 21-day workout plan that includes a combination of cardio, strength training, and flexibility exercises.
2. *Nutrition plan*: A meal plan or nutrition guide that provides healthy eating habits and meal ideas for the 21-day period.
3. *Lifestyle changes*: Tips and guidance on how to incorporate healthy habits into daily life, such as getting enough sleep, managing stress, and staying hydrated.
4. *Accountability*: A community or support system to help individuals stay motivated and accountable throughout the 21-day program.
5. *Progress tracking*: A way to track progress, such as a mobile app or journal, to monitor workouts, nutrition, and lifestyle changes.
The goal of Fit21 is to help individuals develop healthy habits and achieve their fitness goals, and to provide a supportive community to help them stay on track.
FIT21 Bill Voting Today
House expected to vote on #Fit21 today which "would clarify oversight boundaries of the #crypto industry, granting the CFTC primary jurisdiction over the industry at the expense of the SECGov."
Biden Does Not Threaten Veto Against House Crypto Market Structure Bill, But 'Opposes Passage'
The FIT21 bill will see a vote in the House later Wednesday.
House expected to vote on #Fit21 today which "would clarify oversight boundaries of the #crypto industry, granting the CFTC primary jurisdiction over the industry at the expense of the SECGov."
Biden Does Not Threaten Veto Against House Crypto Market Structure Bill, But 'Opposes Passage'
The FIT21 bill will see a vote in the House later Wednesday.