Top House Democrats Will Not Rally Party Against Crypto Bill Despite Opposition
Portfolio Pulse from Murtuza Merchant
Top House Democrats Maxine Waters and David Scott oppose the Financial Innovation and Technology for the 21st Century Act (FIT21) but are not actively rallying against it. The bill aims to define digital assets as securities or commodities, which they argue could undermine legal precedents and investor protections. Despite opposition, the bill is supported by digital asset organizations including Coinbase.
May 21, 2024 | 3:02 pm
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Coinbase supports the FIT21 bill, which aims to define digital assets as securities or commodities. Despite opposition from top House Democrats, the bill could provide a much-needed regulatory framework for the digital assets industry.
The FIT21 bill, if passed, would provide regulatory clarity for digital assets, which is beneficial for Coinbase. Despite opposition, the support from digital asset organizations indicates potential positive impact.
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