Top Highlights

• Pro-Crypto FIT21 Bill Likely Dead as Bitcoin Lobby Eyes Bigger Prize: Sources The crypto-friendly, bipartisan market structure bill was good enough under a Biden regime. Now things have changed, sources say.
• Following Donald Trump’s sweeping victory, and a red wave across Congress that includes many pro-crypto lawmakers, the crypto lobby is poised to trash the bipartisan market structure bill in favor of legislation even more favorable towards the industry, sources told Decrypt. FIT21 sought to create a federal framework for cryptocurrency regulation,...
• “That's not going to happen anymore,” one D.C. insider with knowledge of the matter, who requested anonymity to speak candidly, told Decrypt.
• “FIT21 was the awful compromise that the industry negotiated when it was about to die,” the insider said.  When FIT21 was first passed by the House in May, some voices in the DeFi community criticized the bill for failing to include certain key protections. MetaLeX founder and attorney Gabriel Shapiro, for example, argued that FIT21, as written, m...
• Now, many in crypto will likely want to start over from a position of strength. “I think everyone's going to get very greedy,” the D.C. insider said.

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