π Crypto Industry Set for Historic Legislation: the FIT21 Act: FIT21 aims to simplify crypto regulation in the US. The bill classifies digital assets as commodities or securities. Under the proposed legislation, the CFTC would regulate digital assets if the associated blockchain or digital ledger is both functional and decentralized. On the other hand, the SEC would oversee assets as securities if the blockchain is functional but not decentralized.
π Gary Gensler statement aggressively opposing #FIT21: Read it here
ββ¦many players in the crypto industry don't play by the rules. We should make the policy choice to protect the investing public over facilitating business models of noncompliant firms.β
β SEC's lack of internal coordination suggests Ethereum ETF pivot 'entirely political.' It's crunch time as firms grapple with the Securities and Exchange Commission's seemingly sudden shift in potentially approving spot ether exchange-traded funds.Β
β Trump campaign now accepting crypto
βΏ Last but not least, thank you Laszlo, and Happy #Bitcoin Pizza Day!