The US House of Representatives has passed the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill aimed at clarifying the roles of securities and commodities regulators in overseeing cryptocurrencies. The bill now heads to the Senate, where its future is uncertain due to a lack of a companion bill and opposition from crypto critic Senator Elizabeth Warren. If passed, FIT21 would largely assign control of crypto to the Commodity Futures Trading Commission, seen as a more relaxed regulator than the Securities and Exchange Commission. However, the latter would still have power over cryptocurrencies deemed not sufficiently decentralized.