Markets
Bitcoin Rises, Ether Gets a Boost from ETF, and Donald Trump Takes Crypto
Illustration: Craig Hastings (Getty Images)
The US House of Representatives passed a cryptocurrency market structure bill on Wednesday evening that aims to regulate the industry overall.
The bill, “The Financial Innovation and Technology for the 21st Century Act” (FIT21), would effectively classify cryptocurrency as a commodity, not a security, and therefore exempt from securities regulations. It would also determine the oversight of cryptocurrencies, whether they should be regulated by the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).