House Passes Major Crypto Regulation Bill, Awaits Senate Approval

The U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) to regulate the cryptocurrency market, enhancing CFTC oversight and addressing stablecoins and anti-money laundering. The bill now moves to the Senate, despite opposition from SEC Chair Gary Gensler and concerns from some lawmakers about regulatory gaps and overburdening the CFTC.