The U.S. Home of Representatives handed a crypto market construction invoice on Wednesday night that goals to control the trade at massive.
The invoice, “The Monetary Innovation and Expertise for the twenty first Century Act” (FIT21), would successfully classify cryptocurrency as a commodity, not a safety, and subsequently exempt from securities laws. It might additionally decide oversight of cryptocurrencies, whether or not they need to be regulated by the Securities and Trade Fee (SEC) or the Commodity Futures Buying and selling Fee (CFTC).