The U.S. House of Representatives passed the 21st Century Financial Innovation and Technology Act with 279 votes in favor and 136 votes against, with the House Democrats performing strongly. The passage of the Crypto Market Structure Act marks the industry's most significant legislative achievement in Congress.
Although the House of Representatives passed it, it is still a long way from being officially passed. It will then enter the Senate for a vote. After the two houses pass it, it will eventually be handed over to the president for signature, so the process here is still relatively long, but the House of Representatives' passage has opened a historic page.
In simple terms, the FIT21 Act is about confirming rights and determining who has jurisdiction. The bill clearly states that it is a digital commodity. Since it is a commodity, the CFTC has more management authority, followed by the SEC.
Regarding the ETF news of ETH, the earliest news should be received from the U.S. SEC (about the spot Ethereum ETF) around 4 pm tomorrow Eastern Time (4:00 am Friday Beijing Time).
