Bitcoin and Ethereum Rally on Proposed Crypto Legislation
The cryptocurrency market is abuzz with excitement as Bitcoin (BTC-USD) and Ethereum (ETH-USD) rally on the back of proposed crypto legislation. The House is set to vote on the Financial Innovation and Technology for the 21st Century Act, or FIT21, which could bring much-needed clarity to the industry.
The cryptocurrency market is on the rise
The FIT21 act aims to establish the Commodities Futures Trading Commission (CFTC) as the leading regulator of digital assets, while also introducing consumer protections. Republican lawmakers believe this move will bring clarity to the crypto industry, while Democrats argue it would effectively deregulate most cryptocurrencies by removing them from the Securities and Exchange Commission’s (SEC) purview.
“This act will bring much-needed clarity to the crypto industry,” said a Republican lawmaker.
The vote is expected to pass, but its future in the Senate remains unclear. If passed, the FIT21 act could pave the way for an ether ETF, which could further boost the industry.
Ethereum is on the rise
The proposed legislation has sparked optimism among investors, who are betting on a brighter future for cryptocurrencies. As the industry continues to evolve, one thing is clear - the future of crypto is bright.
Bitcoin is on the rise
In conclusion, the proposed crypto legislation is a step in the right direction for the industry. As the market continues to rally, one thing is clear - the future of crypto is bright.
