Controversial crypto bill FIT21 passes House

The U.S. House of Representatives passed the piece of crypto regulation Financial Innovation and Technology for the 21st Century Act (FIT21) on Wednesday. This marks the first time comprehensive cryptocurrency legislation has been voted on in the full House.

According to data released by the Congress, the Republican-led bill passed with a vote of 279 to 136, garnering support from 71 Democrats including former House Speaker Nancy Pelosi.

FIT21 aims to establish a regulatory framework for digital assets...