🎉🔔 U.S. House of Representatives passes the FIT21 Act, a major step for #crypto regulation! This bill aims to clarify how digital assets should be classified, registered, and held.

👏 The bill received almost unanimous support from Republicans and 71 votes from Democrats, with a final tally of 279 to 136.

💼 FIT21 includes an interim oversight process for digital asset firms, allowing them to file a 'notice of intent to register' with federal regulators. It also clarifies which digital assets should be regulated by the SEC or the CFTC.

🤔 However, not everyone's on board. Some Democrats and SEC chairman Gary Gensler believe the bill favors wealthy crypto firms and hurts ordinary investors.

🇺🇸 Despite opposition, a significant number of Democrats supported the bill, urging their party to keep pace with rivals on crypto regulation.

What are your thoughts on the FIT21 Act? Let's chat below! 👇 #DeFi #Web3