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