In addition to that, he pledges enhanced liberty for cryptocurrency enthusiasts and a diminished legal burden placed upon them. In the midst of these developments, the authorization of the ETH ETF seemed to emerge as though it were a direct command from President Biden to the SEC. Simultaneously, the FIT21 proposal successfully navigated through the House of Representatives. The pivotal aspect of this proposal revolved around empowering the CFTC to ascertain the classification of various altcoins as commodities. Nonetheless, even if it garners approval from the Senate and President Biden, it could potentially require several years to precisely outline and enforce the regulations.
