Biden Administration Decision on FIT21 and Crypto Regulations
Wednesday, 22 May 2024, 16:56
White House Opposes FIT21, Advocates for Balanced Crypto Regulations
The White House opposes FIT21 due to **consumer protection** concerns but is open to collaborating with Congress on balanced crypto regulations.
In its Wednesday statement, the administration highlighted the perceived **lack of sufficient protections** for consumers and investors under FIT21.
If approved, FIT21 would **strengthen regulatory oversight** of crypto spot markets and digital commodities like bitcoin, along with introducing secondary market trading mechanisms.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.