If you’ve been following Congress lately, you might be wondering why this is becoming the summer of crypto. Although crypto isn’t among the top 20 policy concerns Americans identify when asked, crypto industry-sponsored legislation is gaining momentum even though it raises serious threats to investors, consumers, markets and even financial stability. That legislation—the Financial Innovation and Technology for the 21st Century Act (FIT 21) — passed the House last month after the crypto industry spent an enormous sum lobbying on its behalf. The industry also filled pro-crypto super PAC coffers with hundreds of millions of dollars to threaten any lawmaker who dares to oppose crypto’s age
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