Has anyone found a good breakdown of what #FIT21 concretely means for #blockchain projects? I’m baffled that I’m finding no comprehensive analysis on the topic. Maybe nobody really understand the bill… I’ve started going through it and it’s a lot of legal spaghetti that is hard for me to untangle. If I understand correctly though, all blockchains would technically have to register either with the #CFTC (as a commodity) or the #SEC (as a security). It’s unclear how this would play out for blockchains that are very decentralized. Who is going to register #Bitcoin? Maybe I’m misunderstanding something though.

#HR4763 #crypto