Today, the two houses of the United States passed the 21st Century Financial Innovation and Technology Act with a vote of 279:136.
There are many things going on here.
The passage of this bill means that the monitoring power of cryptocurrency is directly handed over to the CFTC (Commodity Futures Trading Commission).
Through the CZ incident, we know that both the SEC and the CFTC are beneficiaries.
Power is so fascinating. What will happen if the SEC is seized? Of course, they will not admit it.
Today, the chairman of the SEC publicly expressed his opposition to the above bill.
The SEC is now managed by the Democratic Party. The Republican Party previously asked the SEC whether Ethereum is a security. At that time, the SEC refused to answer. The Republican Party believed that the SEC did not understand cryptocurrency, let alone how to regulate it.
So this bill directly handed over the management power to the CFTC.
When I was looking for information today, I accidentally found that the Democratic Party also agreed to the bill, but the government issued a document to express opposition.
The twists and turns here are too brain-burning for an ordinary person.
I guess all politicians have a copy of Sun Tzu's Art of War.
However, it is good for the currency circle. We just need to quietly enjoy the benefits brought to us by cryptocurrency.
