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What the FIT21 Act means for the future of Bitcoin in US

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Brian Armstrong was confident that the FIT21 Act would receive a strong bipartisan vote and approval in the US Senate.

in May after the House of Representatives passed key bills, such as the US CBDC Anti-Surveillance State and the FIT21 Acts.

However, the passing through the US House of Representatives was just the first step. Most market observers foresaw a divided US Senate as a key hurdle for the Act to advance and have a chance of becoming law.It looks like that could change, per a recent update by Coinbase founder and CEO Brian Armstrong. In a recent X post, the executive

Interestingly, Armstrong was confident that the FIT21 Act could sail through the Senate. Following his meeting with lawmakers, the executive added that, For the unfamiliar, the FIT21 Act aims to create a regulatory framework for digital assets, and the CFTC could handle a large portion of the mandate.“No. the bill is horrible for DeFi. wait for Trump to win, and then let’s pass something much better.’However, others maintained that the Act doesn’t apply to the DeFi sector. Reacting to the Act in late May, Hayden Adams, founder and CEO of Uniswap,

 

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