"Congress Moves Toward Softer Crypto Regulations Amid Rising Policy Focus"

Cryptocurrency companies and investors have spent at least $149 million over the past four years to influence U.S. regulations and elect supportive lawmakers, culminating in a House vote to soften federal oversight of the industry. The Financial Innovation and Technology for the 21st Century Act, which shifts some regulatory power from the SEC to the CFTC, has advanced in the House but faces opposition from the White House and other federal watchdogs. The crypto industry's lobbying efforts have significantly shaped the bill, raising concerns about potential regulatory gaps and economic risks.