FIT21 bill a ‘watershed moment’ for crypto despite CFTC-SEC friction

FIT21 is the first bipartisan legislation of its kind to pass in either chamber of Congress, but is its dual-agency model workable?

FIT21 is the first digital asset legislation in United States history to pass in either chamber of Congress — the House of Representatives, in this case.

It did so with strong bipartisan support; 71 Democrats joined 208 Republicans to pass the legislation by a two-to-one margin.

“Last week’s overwhelmingly bipartisan passage of FIT21 was symbolic. It shows that both parties are willing to come together and that Congress, not the SEC, should make policy,” Kristin Smith, CEO of the Blockchain Association, told Cointelegraph.

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