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The House Just Approved The FIT21 Bill!

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Let’s cap issues off with our third huge piece of fine information for the week.

Keep in mind on Wednesday morning after we wrote about how “Some of the essential payments for crypto (ever) is about to be voted on” (that was actually the title of the piece)?

Effectively, that vote occurred.

And the invoice was handed.

As a recap, the invoice was known as the ‘Financial Innovation and Technology for the 21st Century Act’ (aka ‘FIT21’).

The three BIG issues it goals to do are:

  1. Make clear questions round which companies have the accountability to manage numerous facets of the crypto business

  2. Create shopper protections for the 52 million Individuals who personal crypto

  3. Give web3 builders seeking to launch initiatives within the U.S. clear guidelines to play by.

Once more, just like the CBDC invoice from the earlier article, the FIT21 invoice has solely handed the Home up to now and nonetheless must get by way of the Senate.

However heck, issues are wanting promising.

And if/when this invoice passes the Senate, we’ll lastly have some clear guidelines to play by > which in principle ought to result in extra innovation > which improves the economic system and attracts extra liquidity (cash) to the house.

Who’s up for a operating chest bump forward of this lengthy weekend?

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