Nancy Pelosi Considers Backing GOP's FIT21 Crypto Bill

Harshini Chakka

Former House Speaker Nancy Pelosi may back the Republican-led FIT21 crypto bill.

The measure seeks to define who is responsible for regulating cryptocurrency assets.

If approved, it would modify the Howey test and lessen the SEC's control over cryptocurrencies.

Pelosi's backing would defy Democratic opponents of the measure, Maxine Waters and David Scott.

Pelosi's choice could be influenced by the political campaign expenditures made by the crypto business.

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