House Prepares for Historic Crypto Market Structure Vote

The U.S. House of Representatives is set to vote on the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill aimed at restructuring the regulatory framework for digital assets. The bill, which is expected to pass with bipartisan support, would grant the CFTC more authority over digital commodities and establish new jurisdictional lines for the SEC. While proponents argue it provides much-needed regulatory clarity, opponents, including SEC Chair Gary Gensler, warn it could weaken existing securities laws and fail to adequately protect consumers.