TL; DR
Full story
Let’s wrap things up with our third big good news of the week.
Remember when we wrote on Wednesday morning about how “one of the most important crypto bills (ever) will be voted on” (that was literally the title of the piece)?
Well, that vote happened.
And the bill was passed.
In summary, the bill became the ‘Financial Innovation and Technology for the 21st Century Act‘ (also known as ‘FIT21’).
The three BIG things it wants to do are:
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Clarify questions about which agencies have the responsibility to regulate various aspects of the crypto industry
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Create consumer protections for the 52 million Americans who own crypto
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Give web3 developers who want to launch projects in the US clear rules of the game.
Again, like the CBDC bill from the previous article, the FIT21 bill has only so far passed the House and has yet to pass the Senate.
But hey, it looks promising.
And if/when this bill passes the Senate, we will finally have some clear rules to live by > which in theory should lead to more innovation > that will improve the economy and bring more liquidity (money) to space to lure.
Who’s up for a running chest bump this long weekend?