🎉Big news for the crypto world! The U.S. House voted 279 to 136 to pass the Financial Innovation and Technology for the 21st Century Act (FIT21), marking the furthest any crypto-focused legislation has made it thus far in the U.S.🇺🇸

If passed, FIT21 would set up a regulatory framework for digital assets, helping to define when a token is a security or commodity. However, not everyone is thrilled. Critics argue that it doesn't shift power away from the SEC, instead creating a dual regulatory regime split between the SEC and CFTC.

Some even say the bill is essentially a way for the government to sanction activities that the industry has already been doing without permission. Yet, many in the crypto industry see the bipartisan vote as a symbolic win for crypto, perhaps a sign of a brighter future.🌞

What's your take on FIT21? Do you think it's a step forward or a potential setback? Let's discuss! #CryptoNews #FIT21