U.S. House Greenlights Crypto Regulation Bill

The U.S. House of Representatives has made a significant move by passing legislation aimed at creating a regulatory framework for cryptocurrencies. This bill significantly expands the oversight powers of the Commodity Futures Trading Commission over the burgeoning industry.

This decision is being celebrated as a major milestone by the digital asset industry, which has been lobbying for clear federal legislation for years. The industry spent substantial resources during the recent election cycles to support candidates favorable to cryptocurrency.

The bill's passage marks a transformative moment in the regulation of digital currencies, setting a precedent for future legislative efforts and potentially stabilizing the industry with clearer guidelines.

(With inputs from agencies.)