In addition to that, he assures cryptocurrency investors of increased freedom and a decrease in legal scrutiny. As this unfolds, we were taken by surprise when the SEC gave its approval for the ETH ETF, almost as if it had received a direct command from President Biden. At the same time, the FIT21 bill successfully passed through the House of Representatives. The most significant aspect of this bill was granting the CFTC the authority to classify altcoins as commodities. However, even if it is passed by the Senate and approved by Biden, it could potentially take several years to precisely define and enforce the regulations.
