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CoinDesk Podcast Network

FIRST MOVER: What's Next for FIT21?

CoinDesk Podcast Network

CoinDesk

News, Daily News, Tech News, Business News

4.7698 Ratings

🗓️ 24 May 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

CoinDesk's Nikhilesh De discusses what's next for the FIT21 bill. To get the show every day, follow the podcast here. CoinDesk Managing Editor of Global Policy and Regulation, Nikhilesh De joins "First Mover" to discuss the FIT21 bill that was approved on Wednesday by the U.S. House of Representatives with a 279-136 vote. Plus, insights on the strong Democratic support for the bill and what the next steps could look like. - Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com. - This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:49.8

The US House has approved the Fit21 bill with a wave of democratic support. Joining First

0:54.9

Mover now is CoinDesk's managing editor of policy and regulation, Nick Day. He's going to tell

0:59.8

us what happened, how long this took, and what could happen next. Nick, always a pleasure.

1:05.7

Good morning. Okay, so I want to talk about what's happening next because I'm not sure enough people are talking about this.

1:12.6

This hasn't gone through the full process yet. It has to hit the Senate. Talk to me about what that actually means.

1:21.1

It means we all go home and go back to bed. There is no Senate version of this bill. This thing does not exist. It does not have a counterpart.

1:33.2

So, you know, as you mentioned, for a bill to become a law to pull out the old school House Rock has to go to the House, has to go to the Senate, has to be signed by the president.

1:39.2

It's gone to the House.

1:40.5

The Senate has not introduced any kind of equivalent or similar bill.

1:44.9

The closest we have are pieces of legislation from senators Chris and Jillbrand and Cynthia

1:49.7

Lummis, but those aren't the same.

1:52.7

And so the best bet that advocates in the House might have for this bill is to try and

...

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