Bitcoin
Bitcoin Soars, Ether Gets ETF Boost, Donald Trump Picks Up Crypto
Illustration: Craig Hastings (Getty Images)
The US House of Representatives passed a crypto market framework bill on Wednesday night that aims to regulate the industry at large.
The bill, “The Financial Innovation and Technology Act for the 21st Century” (FIT21), would effectively classify cryptocurrency as a commodity, not a security, and therefore exempt from securities regulations. It would also determine oversight of cryptocurrencies, whether they should be regulated by the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).