Political Landscape for Cryptos Shifting in the U.S., Higher Interest Equals Market Growth
CryptoNewsTerminal Staff04 Jun, 2024
Political Landscape for Cryptos Shifting in the U.S., Higher Interest Equals Market Growth
Bitwise's CIO, Matt Hougan, recently shared his insights on the changing political landscape surrounding crypto in Washington, which he believes will pave the way for a larger market. The U.S. House recently passed a bipartisan resolution supporting the 21st Century Financial Technology and Innovation Act (FIT21), which seeks to classify crypto as a commodity, rather than a security. Though President Biden vetoed this initiative, it reflects a positive shift in attitude towards crypto. Many investors remain unaware of these developments. If they did, some of the $20 trillion managed by U.S. investment advisors could potentially enter the market, resulting in significant growth.
