Previously, there was bipartisan support in both the House and Senate to overturn the veto, but the necessary two-thirds majority was not achieved, requiring more Democratic support.
The Financial Innovation and Technology for the 21st Century Act, passed in May, aims to clarify the regulatory responsibilities of U.S. commodities and securities entities regarding cryptocurrencies.
With the 2024 U.S. elections approaching, the issue of cryptocurrency regulation is gaining prominence in the campaign narratives of both President Biden and Donald Trump. It is alleged that over the past year, both candidates have shifted towards a more pro-crypto stance, influenced by the increasing presence of digital assets in American financial and political discussions.
- U.S. Policy Proposal Calls on Treasury to Issue $2T in Bitcoin-Enhanced Bonds to Offset Debt, Fund Strategic Reserve
- Bi-Partisan Stablecoin Bill in The Works From Senators Lummis and Gillibrand
- The S.E.C. Approves 8 Ethereum ETFs Including BlackRock and Fidelity
- Trump Plans to ‘Rescind and Amend’ IRS Crypto Tax Rules, Sign Stablecoin Bill By August
- U.S. House Passes Key Market Structure Bill, FIT21 to Regulate The Crypto Industry
- U.S. Government Moves $130 Million in Bitcoin Confiscated From Silk Road to Coinbase