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US: House passes major crypto legislation
The House Wednesday passed the first major piece of legislation that would provide regulatory clarity to the cryptocurrency industry. Why it matters: The industry has long complained that there was no way to operate in a way that conformed with U.S. regulations (other than to just not operate at all). Driving the news: The Financial Innovation and Technology for the 21st Century Act, known on the Hill as FIT 21, passed in the House Wednesday afternoon by a vote of 279-136, with 71 Democrats voting in favor. The Biden administration had issued a policy statement earlier Wednesday opposing passage of the bill, though ... (full story)