The U.S. House of Representatives will vote on the 21st Century Financial Innovation and Technology Act (FIT21) on May 22, which seeks to clarify the regulatory responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission for cryptocurrencies. North Carolina Rep. Wiley Nickel called on lawmakers from both parties to support the bill in order to "prevent the next FTX event" from happening. He emphasized that current cryptocurrency regulation relies on a century-old securities law and that the FIT21 bill was drafted with bipartisan cooperation.
The bill would limit the SEC's power to regulate through law enforcement, and lawsuits filed against several crypto companies, including Ripple, Kraken, Coinbase, and Binance, have also been widely criticized. Congressman Nickel said the SEC is politicizing cryptocurrency regulation, forcing President Joe Biden to take sides on this important issue.
The House Rules Committee will discuss the FIT21 bill on May 21, with a full vote expected the following day. This follows the passage of a cryptocurrency-related bill overturning SEC regulations in the House and Senate, but President Biden has said he intends to veto the resolution.
The FIT21 bill to be voted on in the US House of Representatives will "prevent the next FTX incident" from happening
2024-05-21 21:19:24
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
美国众议院即将投票的FIT21法案将“防止下一个FTX事件”发生Next article：
富达现货以太坊ETF提出第二项变更
