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SEC Chair Gary Jensler is pushing back against the Fit 21 bill hours before a planned vote on Wednesday.

Fit 21, short for the financial innovation and technology for the 21st Century Act, is a joint bill that intends to clarify how the SEC and CFTC will oversee crypto.

Chairman Gensler said that the bill would create new regulatory gaps and undermine decades of

precedent regarding the oversight of investment contracts, putting investors in capital markets

at immeasurable risk. Crypto exchanges, Coinbase, Cracken, and other firms have joined an alliance

to tackle online fraud schemes, including romance scams or crypto scams like pig butchering.

Pig butchering involves scammers gaining the trust of their victims through dating apps or

social media before pitching a money-making opportunity involving crypto.

According to a report from the FBI losses from crypto investment scams totaled $3.94 billion

in the U.S. alone in 2023.

And Wisdom Tree won approval to list crypto exchange traded products or ETPs on the London Stock Exchange.

The asset manager said in a press release that it is among the first applicants to receive the green light by the UK regulator.

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