FIT21 passes the House 279 - 136 🎉

House Democrats voting in favor of this bill: 71.

That is a *huge* number of elected Democrats voting "no confidence" in the current SEC, and sending a message to the Biden administration that "anti-crypto" is a losing platform this year.

can someone do an "explain me like I'm 5" on why FIT21 is so important for the industry, besides the mere "signal"? Like, are there some concrete measures that will really be helpful for crypto businesses or consumers?

/music co-host | BD Consulting at trustswap.org | Music DAO founder everwave.xyz | ex telco.in co-founder | writing on web3 & culture mirror.xyz/alixkun.eth

You may notice no one is really getting into the substance of FIT21 because it's very unlikely to become law. Conventional wisdom is that it's DOA in the Senate, so the value is the signal.

But don't underestimate that value. If the signal is strong enough, it could mean a change in policy (or leadership) at the SEC.

Thanks Jake!
Agreed about the strength of the signal, just wanted to make sure i wasnt missing the essence of this political event :)