US Congress Approves Landmark Crypto Legislation, Boosting US Crypto Market

The United States House Financial Services Committee has passed two crypto regulatory bills that aim to provide regulatory clarity for crypto firms. The Financial Innovation and Technology for the 21st Century Act establishes rules for crypto firms to register with either the Commodity Futures Trading Commission or the Securities and Exchange Commission. The Blockchain Regulatory Certainty Act removes hurdles and requirements for blockchain developers and service providers. However, another proposed bill, The Digital Assets Market Structure bill, did not receive support from both Republicans and Democrats.