The Financial Innovation and Technology for the 21st Century Act (FIT21) is a bill passed by the U.S. House of Representatives that aims to provide regulatory clarity and oversight to the cryptocurrency industry ¹ ² ³ ⁴ ⁵. Here are some key points about the bill:

- Passed with bipartisan support (279-136) in the House of Representatives

- Aims to establish a clear regulatory framework for digital assets markets

- Would grant the Commodity Futures Trading Commission (CFTC) more jurisdiction over the crypto sector

- Provides definitions for crypto assets and divides responsibility between the CFTC and Securities and Exchange Commission (SEC)

- Faces uncertain future in the Senate

- Opposed by the White House and SEC Chair Gary Gensler, who argue that it lacks sufficient consumer protections and could undermine existing securities regulatio