U.S. House of Representatives Passes FIT21 Cryptocurrency Bill

The U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) by a vote of 279 to 136, with a strong showing from House Democrats, and the passage of the cryptocurrency market structure bill marks the industry's most significant legislative achievement in Congress. The U.S. lags behind other jurisdictions around the world in enacting cryptocurrency regulation, and despite the House's passage of the FIT21 cryptocurrency bill, implementing such regulation is far from complete.