The crypto lobby in the United States is expected to abandon the bipartisan market structure bill, known as the Financial Innovation and Technology for the 21st Century Act (FIT21), and push for more favorable legislation for the industry. FIT21 aimed to establish a federal framework for cryptocurrency regulation and create jurisdictional boundaries between the Commodity Futures Trading Commission and the Securities and Exchange Commission. However, with the recent Republican victories in the elections, the crypto lobby sees an opportunity to craft new legislation that aligns more closely with its interests. The industry aims to take advantage of its growing influence but also faces the challenge of internal infighting between different factions.
- Content Editor ( decrypt.co )
- 2024-11-06
Pro-Crypto FIT21 Bill Likely Dead as Bitcoin Lobby Eyes Bigger Prize: Sources