🚨 History: US House Passes Cryptocurrency Regulation Act!🚨
Last Wednesday, May 22, the United States House of Representatives approved the FIT21 bill, a regulatory framework that promises to transform the Bitcoin ecosystem ($BTC ) and other cryptocurrencies in the country. Let’s understand what this means for the future of cryptocurrencies! 🌐💼
📜 What is the FIT21 Law?
The Financial Innovation and Technology Law for the 21st Century (FIT21 Law), which received 279 votes in favor and 136 against, had strong support from Democratic Party congressmen. This is a historic step, as it is the first time that a regulatory proposal for the cryptocurrency industry has been approved in one of the chambers of the American Congress. 🏛️
🏛️ Next Steps
With approval in the Chamber, the project now goes to debate in the Senate, where it will face challenges due to the strong presence of the Republican Party. If approved in the Senate, the law will be forwarded to the White House. President Joe Biden has already declared that he will not veto the proposal, even though he has some reservations about its impact on the regulatory structure for digital assets in the US. 🇺🇸
⚖️ Regulation of Cryptocurrencies
The approval of FIT21 is a watershed. The White House, in a recent statement, highlighted a significant change in policy regarding the BTC and cryptoactive sector, emphasizing the intention to develop “balanced regulation” for Bitcoin. This move marks a departure from the more critical stance previously adopted by the government towards cryptocurrencies. #Binance #ethereum #bitcoin #defi
