The U.S. House of Representatives passes the FIT21 Cryptocurrency Act

ChainCatcher News, the U.S. House of Representatives passed the "21st Century Financial Innovation and Technology Act" (FIT21) with 279 votes to 136. The Democrats in the House of Representatives showed strong performance, and the passage of the cryptocurrency market Structure Act marks the most important legislative achievement in this industry by Congress.

The United States lags behind other global jurisdictions in formulating cryptocurrency regulations. Although the House of Representatives has passed FIT21 cryptocurrency bill, implementation of such regulation is far from complete.