Changes for regulation of the cryptocurrency industry passed in the U.S. House of Representatives on Wednesday afternoon in legislation opposed by the White House.
Lawmakers voted 279-136, moving the Financial Innovation and Technology for the 21st Century Act – known colloquially as FIT21 – forward. Seventy-one Democrats were among those in favor.
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Rep. Ilhan Omar (D-MN-05) has introduced a “bold resolution” asking President-elect Joe Biden to federally remove $50,000 of student loan debt per person.
The congress member introduced the resolution alongside Reps. Ayanna Pressley, Maxine Waters, and Alma Adams. The resolution outlines a path for Biden to use “excessive authority” to remove student loan debt while simultaneously ensuring there are no tax liabilities for federal student loan borrowers.
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