Impressive, especially given the strong statement of total opposition from SEC Chair Gensler this am.

In most countries, a minister who so ferociously opposed legislation publicly and privately lobbied against it - but still lost 1/3 of his party - would step down from his post.

8 Dems yesterday pushed their colleagues to vote Yes on FIT. Depending how many Dems we get today, these 8 (and their staff!) deserve a lot of credit:

Rep. Wiley Nickel 🇺🇸
Dr. Yadira Caraveo
Jim Himes 🇺🇸🇺🇸🇺🇦🇺🇦
Jasmine Crockett
Rep. Ritchie Torres
Rep. Darren Soto
Rep Josh Gottheimer
Congressman Don Davis

FIT21 just passed in the House of Representatives.

Here’s what it is about, why it matters, and what you can still do to help it become law:
a16zcrypto.com/posts/article/…

A landmark piece of legislation that embraces concepts of decentralization for regulation just had a very good day. #FIT21

The country that properly incentivizes decentralization is going to dominate blockchain innovation and will reap the benefits.

FIT21 is a step in that direction.

1/ A defining moment. The House passes the Financial Innovation and Technology for the 21st Century Act (FIT 21), marking years of incredible effort on both sides of the aisle to establish a comprehensive federal framework for digital assets.

The House of Representatives made history today by passing the Financial Innovation and Technology for the 21st Century Act (FIT21). FIT21’s success is proof that protecting blockchain technology in the U.S. has strong, bipartisan support.

It’s an important step in providing

1/ There are many myths in U.S. Securities and Exchange Commission Chair Gary Gensler's Statement on FIT 21. We break them down and provide the facts.

media.cryptoforinnovation.org/2024/05/Myths-…

.Gary Gensler's last-minute foray into congressional action on the bipartisan #FIT21 legislation underscores the political nature of SEC's position. This can't continue. Americans deserve more protections in the digital asset markets. We look forward to passing #FIT21 today.

#NEW : Chairman Patrick McHenry, French Hill, and Rep. Bill Huizenga sent a letter to U.S. Securities and Exchange Commission Chair Gary Gensler demanding more information on Prometheum’s plans to custody ETH given regulatory uncertainty surrounding its classification.

📖 Read more 🔗
financialservices.house.gov/news/documents…

A group of House Democrats is petitioning colleagues in their party to get on the Yes side of the vote for the crypto bill known as FIT21.

Jesse Hamilton reports

trib.al/FMRqCtj

In this conversation, Mo Shaikh 🌐 aptOS shares his learnings of being a 3x founder, his expertise in going from 0-1 and scaling products, and how being a first-generation immigrant led him to founding Aptos.

youtube.com/watch?v=iInQwQ…

If you're in the US, care about crypto and have 10 minutes—calling or emailing your congressperson and senators about FIT21 is helpful.

FIT21 would be a huge win for anyone building in crypto.

Link in the next tweet.

yo can y'all do me a favor and follow a16z crypto if you aren't already doing so

i'm trying to hit 100,000 this week

so close

🤏🏽

Today’s WSJ. This is the first time I’ve seen that bottom graph.

The orb's software is open source.

On FIT21 and Why it Matters

Tokens are a breakthrough in network design. They incentivize cooperation towards shared goals among unaffiliated parties.

In doing so, they enable crowdsourced markets for digital resources that can compete with monopoly incumbents. This drives

Thank you!!!

1/ Today, CCI is proud to stand alongside nearly 60 organizations and prominent allies in our industry in signing a letter of support for the Financial Innovation and Technology for the 21st Century Act (FIT21).

cryptoforinnovation.org/fit21-coalitio…

U.S. regulators approved nine Ether Futures ETF’s last October. If #ETH were a security, then the these would be illegal instruments. The U.S. Securities and Exchange Commission cannot approve an illegal instrument to trade over a nat’l securities exchange. Here’s a good breakdown from Brian Quintenz 👇👇