New Crypto Legislation FIT 21: Cardano’s Decentralization Advantage

• Cardano’s Co-Founder lauds FIT 21 Bill for Aligning with Decentralization and Community Governance.
• FIT 21 Bill Proposes CFTC Oversight for Decentralized Assets, SEC Regulation for Centralized Ones.
• Cardano Positioned Favorably Under New FIT 21 Bill, Surpassing Decentralization Criteria Compared to Rivals.

The co-founder of Cardano Ghost Fund DAO, Chris O, commented on the recently introduced FIT 21 bill, terming it a significant development for the industry. Addressing his 11.5K X followers, Chris noted that the bill’s minimum requirements for a cryptocurrency to be classified as a commodity or a security fit “Cardano’s narrative.”

He added that the bill favors Cardano’s emphasis on decentralization and community governance. Quote: 

“No single entity or affiliated person will control over 20% of supply! What does that mean? It means: DECENTRALIZATION & COMMUNITY GOVERNANCE THE NARRATIVE OF THE CYCLE. This is Cardano’s narrative!! Love crypto, the underdog unexpected always turns out to be the most significant thing to occur.”

Under the FIT 21 Act, decentralized digital assets with blockchains qualify as commodities. Therefore, the Com…

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