Reported 5 months ago
Bitcoin and Ethereum are experiencing a rally this week due to investor optimism surrounding proposed crypto legislation, including the Financial Innovation and Technology for the 21st Century Act (FIT21) that will potentially make the Commodities Futures Trading Commission (CFTC) the primary regulator for digital assets, providing clarity and consumer protections. The House is set to vote on FIT21 today, with expectations of passage, but its future in the Senate remains uncertain. The legislation has bipartisan support, but Democrats are concerned it could deregulate most cryptocurrencies by removing them from the SEC's oversight.
Source: YAHOO