The Breakdown A Preview of Crypto's Big Week in Washington
May 21, 2024
The podcast discusses upcoming crypto events in DC, including ETH Spot ETF decisions and FIT21 Act voting. It explores the political landscape surrounding crypto regulations and the support for the Fit 21 Act. The SEC's potential denial of Ethereum ETF approval is also analyzed, along with the surge in institutional investment in Bitcoin.
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Crypto Firms Unite Behind FIT21
- 60 US crypto firms support the Financial Innovation and Technology for the 21st Century Act (FIT21).
- This bill aims to establish market structure and regulatory clarity for the crypto industry.
FIT21's Uncertain Future
- Analysts doubt FIT21 will pass the Senate, even if it passes the House.
- It's seen as a way for lawmakers to signal their crypto policy positions.
Jeffries and Waters Face Key Decisions
- House Democrat Leader Hakim Jeffries faces a high-stakes vote on FIT21.
- Maxine Waters, a key figure, holds a legacy-defining choice regarding the bill.