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US Lawmakers Seek To Clean Up Crypto Regulation 'Food Fight'
The US House of Representatives on Wednesday adopted a bill that would create a new legal framework for digital currencies, in a move cheered by crypto supporters but opposed by consumer groups who say it fails to protect investors. The Republican-backed Financial Innovation and Technology for the 21st Century Act -- known as FIT21 -- would split responsibility for cryptocurrency regulation between the Securities and Exchange Commission and the Commodities Futures Trading Commission. The bill would boost the regulatory authority of the CFTC, and weaken the SEC's oversight of digital assets. It is opposed by the SEC ... (full story)