House passes Financial Innovation and Technology Act with bipartisan support

The House passed the Financial Innovation and Technology for the 21st Century Act (FIT21) by a vote of 279-136, with 71 Democrats joining Republicans. The bill established a framework dividing crypto oversight between the SEC and CFTC based on whether a digital asset was sufficiently decentralized. FIT21 died in the Senate but laid the groundwork for the CLARITY Act introduced in the next Congress.