FIT21: The regulation of the cryptocurrency industry is like "nine dragons controlling the water, but the water is not managed."
The FIT21 Act establishes the first complete regulatory framework for the cryptocurrency industry, and its passage in the House of Representatives marks a significant legislative achievement for the cryptocurrency industry in the U.S. This article will detail the current state of cryptocurrency regulation in the U.S., the six key components of the FIT21 Act, its implications for the cryptocurrency industry, the important driving forces behind the bill, and the subsequent legislative resolution process.