Punchbowl News Reporter Brendan Pedersen Posts On X "The White House will not issue a veto threat against FIT for the 21st Century Act, the crypto market structure overhaul bill being voted on today. Flags "concerns" but no veto threat. This is a huge win for crypto backers on the Hill"
Portfolio Pulse from Benzinga Newsdesk
The White House will not issue a veto threat against the FIT for the 21st Century Act, a significant crypto market structure overhaul bill. This is seen as a major win for crypto supporters in Congress.
May 22, 2024 | 2:19 pm
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POSITIVE IMPACT
The White House's decision not to veto the FIT for the 21st Century Act is a positive development for Bitcoin, as it suggests a more favorable regulatory environment.
The lack of a veto threat from the White House indicates a more favorable regulatory stance towards cryptocurrencies, which is likely to boost investor confidence in Bitcoin.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Ethereum is likely to benefit from the White House's decision not to veto the FIT for the 21st Century Act, indicating a supportive regulatory environment.
The decision not to issue a veto threat suggests a more supportive regulatory environment for cryptocurrencies, which is positive for Ethereum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80