Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Monday, May 20th, and today we are talking about the next

crypto-political fight with the industry rallying. Before we get into that, however, if you

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Well, friends, obviously last week was all about this big sea change and shift represented by the vote against Sab 121. And this week, we're taking the momentum from that battle and putting

it into a new proactive domain. Specifically, 60. crypto firms have banded together to support the

financial innovation and technology for the 21st Century Act. Known as Fit 21, the bill will set out

market structure and regulatory authority for the crypto industry. After more than a year of negotiations

between parties, Republican lawmakers are pushing the bill onto the House floor for a vote,

which is expected to take place later this week. The letter in support of the bill was prepared by the Crypto

Council of Innovation, or CCI, and features many of the biggest players in the industry. That includes

exchanges such as Coinbase, Cracken and Gemini, as well as investment firms like Andresen

Horowitz and Digital Currency Group. It was sent to the House leaders of both parties in hopes

of encouraging strong bipartisan support. The letter from CCI said, We recognize Drason Horowitz and Digital Currency Group. It was sent to the House leaders of both parties in hopes of

encouraging strong bipartisan support. The letter from CCI said,

We recognize that Fit21 will introduce new compliance challenges for digital asset companies,

but regulatory clarity is indisputably more responsible, safer for consumers, and preferable to the

status quo. Currently, digital assets firms are instructed to somehow comply with U.S. securities laws that were designed nearly 100 years ago without consideration of the

technological advances of today, including the ability for transactions to move at the speed of the

...