{"id":247117,"date":"2024-05-22T17:24:25","date_gmt":"2024-05-22T17:24:25","guid":{"rendered":"https:\/\/www.techopedia.com\/?p=247117"},"modified":"2024-05-23T09:19:21","modified_gmt":"2024-05-23T09:19:21","slug":"what-is-the-fit21-crypto-bill-and-why-is-it-so-important","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/what-is-the-fit21-crypto-bill-and-why-is-it-so-important","title":{"rendered":"What is the FIT21 Crypto Bill  \u2014 And Why Is It So Important?"},"content":{"rendered":"<p><span>The U.S. House of Representatives approved a crucial crypto bill called the <a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/house-bill\/4763\/all-info\" target=\"_blank\">Financial Innovation and Technology for the 21st Century Act<\/a> (FIT21) on May 22, 2024, marking a major step forward toward delivering regulatory clarity for the crypto industry in the U.S.<\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>The FIT21 bill aims to clearly define cryptocurrencies, categorize whether a particular crypto is a security or a commodity, and decide which government body regulates them.<\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>The proposed crypto bill will next be sent to the U.S. Senate for a vote.<\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>What is the FIT21 crypto bill? Let\u2019s find out.<\/span><\/p>\n<div class=\"su-note\"  style=\"border-color:#dddddd;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#f7f7f7;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<h2><span id=\"key_takeaways\">Key Takeaways<\/span><\/h2>\n<ul>\n<li>The FIT21 bill aims to split crypto regulation duties between the SEC and CFTC.<\/li>\n<li>The proposed bill has a \u201cdecentralization test\u201d that will determine whether a token is a security or a commodity.<\/li>\n<li>Crypto securities will be regulated by the SEC, while crypto commodities will be regulated by the CFTC.<\/li>\n<li>The proposed bill will allow crypto tokens to decentralize over time to become a commodity.<\/li>\n<li>SEC Chair Gary Gensler slammed the FIT21 bill saying that it puts investors and capital markets at risk.<\/li>\n<\/ul>\n<ul><\/ul>\n<ul><\/ul>\n<ul><\/ul>\n<\/div><\/div>\n<div>\n    <section class=\"toc-sticky w-100 bg-white \">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\"\n                 aria-controls=\"multiCollapse1\"\n                 data-bs-target=\"#multiCollapse1\">\n                <button\n                        class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\"\n                >\n                    <i class=\"icon-chevron-up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n                <span class=\"toc-main-title-permanent\">Table of Contents<\/span>\n            <\/div>\n            <div\n                    class=\"collapse my-3\"\n                    id=\"multiCollapse1\"\n            >\n                <ol class=\"StepProgress\">\n                                                                        <li class=\"StepProgress-item current\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"key_takeaways\"\n                               onclick=handleScrollToTitle(\"key_takeaways\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Key Takeaways<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"about_financial_innovation_and_technology_for_the_21st_century_act_fit_21\"\n                               onclick=handleScrollToTitle(\"about_financial_innovation_and_technology_for_the_21st_century_act_fit_21\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">About Financial Innovation and Technology for the 21st Century Act (FIT 21)<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"what_does_the_fit21_bill_do\"\n                               onclick=handleScrollToTitle(\"what_does_the_fit21_bill_do\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">What Does the FIT21 Bill Do?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"decentralization_test_of_fit21_-_crypto_security_or_crypto_commodity\"\n                               onclick=handleScrollToTitle(\"decentralization_test_of_fit21_-_crypto_security_or_crypto_commodity\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Decentralization Test of FIT21 - Crypto Security or Crypto Commodity?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"sec_response_to_fit21\"\n                               onclick=handleScrollToTitle(\"sec_response_to_fit21\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">SEC Response to FIT21<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_bottom_line\"\n                               onclick=handleScrollToTitle(\"the_bottom_line\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The Bottom Line<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                    <\/ol>\n                <div class=\"toc-sticky__container__disperse\"><\/div>\n                <div class=\"toc-sticky__btn-top justify-content-center\">\n                    <button class=\"btn btn-link d-flex align-items-center\" onclick={btnTop()}><p>Show Full Guide<\/p><img decoding=\"async\"\n                                src=\"\/wp-content\/plugins\/table-of-contents\/assets\/images\/arrow-up-circle.svg\"\n                                alt=\"arrow-up-circle\">\n                    <\/button>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n    <div class=\"toc-sticky-list\">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\" aria-controls=\"multiCollapse2\" data-bs-target=\"#multiCollapse2\">\n                <button class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\">\n                    <i class=\"icon-chevron-up up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n            <\/div>\n            <div  class=\"collapse my-3\" id=\"multiCollapse2\">\n                <ol class=\"StepProgress\">\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item current \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"key_takeaways\"\n                                   onclick=handleScrollToTitle(\"key_takeaways\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Key Takeaways<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"about_financial_innovation_and_technology_for_the_21st_century_act_fit_21\"\n                                   onclick=handleScrollToTitle(\"about_financial_innovation_and_technology_for_the_21st_century_act_fit_21\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">About Financial Innovation and Technology for the 21st Century Act (FIT 21)<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"what_does_the_fit21_bill_do\"\n                                   onclick=handleScrollToTitle(\"what_does_the_fit21_bill_do\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">What Does the FIT21 Bill Do?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t <span class=\"show_moretoc\">Show Full Guide<\/span>\n\t\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"decentralization_test_of_fit21_-_crypto_security_or_crypto_commodity\"\n                                   onclick=handleScrollToTitle(\"decentralization_test_of_fit21_-_crypto_security_or_crypto_commodity\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Decentralization Test of FIT21 - Crypto Security or Crypto Commodity?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"sec_response_to_fit21\"\n                                   onclick=handleScrollToTitle(\"sec_response_to_fit21\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">SEC Response to FIT21<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_bottom_line\"\n                                   onclick=handleScrollToTitle(\"the_bottom_line\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The Bottom Line<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                                    <\/ol>\n            <\/div>\n            <div class=\"toc-sticky__container__disperse\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<script 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pageLegendCollapse);\n\tjQuery('span.show_moretoc').click(function(){\n\t\tjQuery('span.show_moretoc').hide();\n\t   jQuery('.ms_hidetoc').show();\n\t});\n    });\n\n    \/\/ When the user clicks on the button, scroll to the top of the document\n    function btnTop() {\n        const pageLegend = document.querySelector('#multiCollapse1');\n        document.querySelector('html').classList.remove('overflow-hidden');\n        pageLegend.classList.remove('overflow-auto');\n        pageLegend.style.height = 'auto';\n        window.scrollTo({\n            top: 0,\n            behavior: 'smooth'\n        });\n    }\n\n    const handleScrollToTitle = (id) => {\n        const el = document.getElementById(id);\n        const headerHeightDifference = window.innerWidth < 992 ? -30 : -15;\n        window.scrollTo({\n            top: el.offsetTop - 60 - headerHeightDifference - 10,\n        });\n    }\n<\/script>\n\n<h2><span id=\"about_financial_innovation_and_technology_for_the_21st_century_act_fit_21\">About Financial Innovation and Technology for the 21st Century Act (FIT 21)<\/span><\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/kkU82hysyS\" target=\"_blank\">pic.twitter.com\/kkU82hysyS<\/a><\/p>\n<p>&mdash; paulgrewal.eth (@iampaulgrewal) <a href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/1793399292125728946?ref_src=twsrc%5Etfw\" target=\"_blank\">May 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>#The FIT21 bill is a consumer protection bill that aims to establish a regulatory framework for digital assets.<\/p>\n<p>The bill aims to protect consumers while ensuring that crypto innovators are not wrongfully prosecuted by regulators like the U.S. <a href=\"https:\/\/www.techopedia.com\/definition\/securities-and-exchange-commission-sec\">Securities and Exchange Commission<\/a> (SEC) and the Commodity Futures Trading Commission (CFTC) due to \u201cabsent clear rules\u201d.<\/p>\n<p>\u201cFIT21 provides the robust, time-tested consumer protections and regulatory certainty necessary to allow digital asset innovation to flourish in the United States,\u201d <a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409269\" target=\"_blank\">said<\/a> the Financial Services Committee.<\/p>\n<p>The bill will introduce a \u201c<a href=\"https:\/\/www.techopedia.com\/definition\/decentralization\">decentralization<\/a> test\u201d to determine whether a crypto is deemed a security or a commodity. The SEC will regulate digital asset securities, while the CFTC will regulate digital asset commodities.<\/p>\n<p>The FIT21 bill is a joint effort by the House Committee on Financial Services and the House Committee on Agriculture. The bill was first introduced to the U.S. House of Representatives in July 2023.<\/p>\n<p>\u201cAbsent clear rules, we will continue to see the SEC pursue a \u2018regulation by enforcement\u2019 agenda that leaves market participants fearing that they\u2019ll be subject to litigation at a moment\u2019s notice if they continue to operate in the U.S,\u201d<a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409269\" target=\"_blank\"> testified<\/a> U.S. Congressman French Hill before the House Committee on Rules on May 21, 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\udf9e\ufe0f To date, the U.S. digital asset ecosystem has been mired by uncertainty and regulation by enforcement.<\/p>\n<p>Congress has the chance to provide the robust consumer protections and regulatory clarity needed to foster innovation here in America by advancing <a href=\"https:\/\/twitter.com\/hashtag\/FIT21?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">#FIT21<\/a>.<\/p>\n<p>\ud83c\udfa5 \ud83d\udc47 <a href=\"https:\/\/t.co\/EuixOAYNae\" target=\"_blank\">pic.twitter.com\/EuixOAYNae<\/a><\/p>\n<p>&mdash; Financial Services GOP (@FinancialCmte) <a href=\"https:\/\/twitter.com\/FinancialCmte\/status\/1792925844685390120?ref_src=twsrc%5Etfw\" target=\"_blank\">May 21, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"what_does_the_fit21_bill_do\">What Does the FIT21 Bill Do?<\/span><\/h2>\n<p>The FIT21 bill aims to do four key things:<\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>Consumer protection requirements<\/b> &#8211; The bill looks to impose strict consumer protections on crypto service providers for disclosures, segregation of funds, capital provisions and higher custody standards.<\/li>\n<li style=\"font-weight: 400;\"><b>Drawing the lines of authority for CFTC and SEC<\/b> &#8211; The bill will clearly define whether a crypto is a security or a commodity, allowing the CFTC to regulate crypto commodities. The bill will give the SEC clear authority over crypto securities.<\/li>\n<li style=\"font-weight: 400;\"><b>Allowing crypto projects to evolve from centralization to decentralization<\/b> &#8211; The bill will allow crypto tokens to decentralize over time to become a commodity.<\/li>\n<li style=\"font-weight: 400;\"><b>Championing crypto innovation in the U.S. <\/b>&#8211; The bill will enable crypto companies and startups to innovate without fear of litigation by providing regulatory clarity for the digital asset ecosystem.<\/li>\n<\/ol>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I\u2019ve been working on the Securities Clarity Act with <a href=\"https:\/\/twitter.com\/RepDarrenSoto?ref_src=twsrc%5Etfw\" target=\"_blank\">@RepDarrenSoto<\/a> since 2020. This legislation would enshrine in law that a token does not in and of itself constitute a security, which gives this technology the flexibility to evolve from centralization to decentralization.<\/p>\n<p>&mdash; Tom Emmer (@GOPMajorityWhip) <a href=\"https:\/\/twitter.com\/GOPMajorityWhip\/status\/1792967327933407668?ref_src=twsrc%5Etfw\" target=\"_blank\">May 21, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"decentralization_test_of_fit21_-_crypto_security_or_crypto_commodity\">Decentralization Test of FIT21 &#8211; Crypto Security or Crypto Commodity?<\/span><\/h2>\n<p>Here is how the FIT21 act will deem a cryptocurrency to be sufficiently decentralized in order to be classified a commodity.<\/p>\n<p>\u201cThe bill classifies a blockchain as decentralized if, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset,\u201d<a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/house-bill\/4763\/all-info\" target=\"_blank\"> read<\/a> the FIT21 summary.<\/p>\n<p><a href=\"https:\/\/youtu.be\/_QvOzpKX3I4?si=G9Ao9Wn2Jmy34mwM\" target=\"_blank\">In a conversation with Bankless Podcast<\/a> U.S. Representative Patrick McHenry said that the FIT21 bill\u2019s \u201cdecentralization test\u201d has been \u201crefined with a lot of feedback.\u201d<\/p>\n<p>Representative McHenry added that the decentralization test is a \u201cvery clear bright line test\u201d that allows crypto projects to determine whether the tokens they issue will be categorized as a security or a commodity.<\/p>\n<p>Furthermore, Representative McHenry said the concepts of centralization and decentralization is a \u201cbroad spectrum,\u201d with <a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">Bitcoin<\/a> (BTC)\u2019s decentralization level being on one end of the spectrum.<\/p>\n<p>With regards to <a href=\"https:\/\/www.techopedia.com\/definition\/32571\/ethereum-cryptocurrency\">Ethereum<\/a> (ETH), Representative McHenry said that Ethereum \u201cclearly\u201d passes FIT21\u2019s decentralization test, making it a crypto commodity.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: <a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Etfw\" target=\"_blank\">@POTUS<\/a> announced that they will not veto the FIT21 crypto bill if passed by Congress today <a href=\"https:\/\/t.co\/rzXFIzexUI\" target=\"_blank\">pic.twitter.com\/rzXFIzexUI<\/a><\/p>\n<p>&mdash; Bankless (@BanklessHQ) <a href=\"https:\/\/twitter.com\/BanklessHQ\/status\/1793291448965624088?ref_src=twsrc%5Etfw\" target=\"_blank\">May 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<h2><span id=\"sec_response_to_fit21\">SEC Response to FIT21<\/span><\/h2>\n<p>In what you might call the safest bet in crypto, U.S. SEC Chair Gary Gensler is not a fan of the FIT21 bill.<\/p>\n<p>On May 22, 2024, Chair Gensler slammed the proposed bill in a<a href=\"https:\/\/www.sec.gov\/news\/statement\/gensler-21st-century-act-05222024\" target=\"_blank\"> blog post<\/a>, saying the FIT21 bill could put investors and capital markets at risk by creating a new regulatory gap.<\/p>\n<p>Chair Gensler added that the FIT 21 bill\u2019s decentralization test abandons the \u201cSupreme Court\u2019s long-standing Howey test\u201d and allows crypto projects to self-certify as \u201cdecentralized\u201d to escape SEC oversight.<\/p>\n<p>He also said that the U.S. SEC would be understaffed to handle digital commodity certification requests from the more than 16,000 crypto assets currently in existence.<\/p>\n<p>\u201cWhat if perpetrators of pump and dump schemes and penny stock pushers contend that they\u2019re outside of the securities laws by labeling themselves as crypto investment contracts or self-certifying that they are decentralized systems? The SEC would only have 60 days to contest their self-certification,\u201d wrote Chair Gensler.<\/p>\n<p>It is a big week for the SEC, with the <a href=\"https:\/\/www.techopedia.com\/ethereum-etf-decision\">first Ethereum ETF decisions also due this week<\/a>.<\/p>\n<h2><span id=\"the_bottom_line\">The Bottom Line<\/span><\/h2>\n<p><span>The FIT21 bill still has a long way to go before it becomes law, and t<\/span><span>he U.S. Senate will vote on the bill next.<\/span><\/p>\n<p><span>If passed, the crypto bill will return to the House and Senate for final approval.<\/span><\/p>\n<p><span>Once approved, the President will have ten days to sign or veto the bill.<\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>The Biden Administration issued an announcement saying that it opposed the FIT21 bill in its \u201ccurrent form\u201d but was \u201ceager to work\u201d to ensure a balanced regulatory framework for cryptocurrencies.<\/span><\/p>\n<p><span>The Biden Administration did not make any veto announcements on the bill<\/span><span class=\"c-message__edited_label\" dir=\"ltr\" delay=\"300\" data-sk=\"tooltip_parent\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. House of Representatives approved a crucial crypto bill called the Financial Innovation and Technology for the 21st Century Act (FIT21) on May 22, 2024, marking a major step forward toward delivering regulatory clarity for the crypto industry in the U.S. The FIT21 bill aims to clearly define cryptocurrencies, categorize whether a particular crypto [&hellip;]<\/p>\n","protected":false},"author":286557,"featured_media":247119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[601,602],"tags":[],"category_partsoff":[],"class_list":["post-247117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the FIT21 Crypto Bill \u2014 And Why Is It So Important? 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