The House is set to vote on legislation that combines regulations for cryptocurrencies and Congressional restrictions on central bank digital currencies.

Quick Summary:

The Financial Innovation and Technology (FIT) for the 21st Century Act and an anti-Central Bank Digital Currency (CBDC) bill, sponsored by Republican representatives, will be on the floor the last week of May.

House representatives are gearing up for a vote on two major bills of cryptocurrency legislation.

The FIT for the 21st Century Act, also known as HR 4763, is a broad bill that seeks to create a regulatory infrastructure around the cryptocurrency industry.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaUnited States

Topics: CBDC Tom Emmer 24/7 Cryptocurrency News Regulation News Crypto regulations Us congress

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-11 @ 05:18:27 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 616 words

Reading Time: 4 minutes read

Sentences: 35 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20933030

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