Bitcoin and Ethereum Rally as Investors Optimistic About New Regulatory Framework and ETF Approval

Bitcoin (BTC-USD) and ethereum (ETH-USD) are experiencing a rally this week as investors are optimistic about a new regulatory framework and the potential approval of an ether ETF that could boost the industry. The House is set to vote today on the Financial Innovation and Technology for the 21st Century Act (FIT21), which would make the Commodities Futures Trading Commission (CFTC) the leading regulator of digital assets and establish consumer protections.

Republican lawmakers believe FIT21 will bring clarity to the crypto industry, while Democrats argue that it would effectively deregulate most cryptocurrencies by removing them from the Securities and Exchange Commission’s (SEC) oversight. The vote is expected to pass in the House around 5 p.m. ET today, but the future of FIT21 in the Senate remains uncertain.

For more insights and the latest market action, viewers can watch the full episode of Catalysts. The legislation, if passed, could have a significant impact on the crypto sector, shaping its future regulatory landscape. Stay tuned for updates on this developing story.