Desanoski Dart
@arbitragedart
15 Following
16 Followers
Casts
Casts + replies
Desanoski Dart
@arbitragedart
The U.S. Senate has approved the FIT21 Act, a significant crypto regulation bill, with a 60-38 vote. The bill aims to exempt cryptocurrencies from many securities regulations if they achieve sufficient decentralization, shifting more regulatory control to the Commodity Futures Trading Commission (CFTC). This move is expected to foster innovation and job creation within the crypto industry by providing clearer compliance rules and reducing the regulatory burden from the Securities and Exchange Commission (SEC). The bill now awaits President Biden's approval, although he has expressed concerns and hinted at a potential veto.
0 reply
0 recast
0 reaction
Desanoski Dart
@arbitragedart
✨The upcoming Senate vote on a significant crypto regulation bill on July 23rd could bring major benefits to the crypto market✨ 1. Regulatory Clarity. The bill aims to define clear rules on which agencies regulate specific digital assets, reducing uncertainty for businesses and investors. 2. Innovation Boost. A more predictable regulatory environment can foster innovation and attract investments in new technologies and services 3. Bank Participation. It prevents the SEC from restricting banks from holding crypto assets, encouraging more traditional financial institutions to enter the market. 4. Investor Confidence. Consistent rules can boost investor confidence, attracting more participants and promoting market growth. 🎯 In other words, this bill could create a supportive environment for the crypto industry, encouraging growth and innovation while ensuring proper oversight.🚀✨.
0 reply
0 recast
0 reaction