Cryptocurrency expert Michael Zuccarelli welcomed the House bill known as FIT21 that passed earlier this week, telling Newsmax that the legislation provides crypto clarity that the industry has been craving.
Zuccarelli, who hosts the "Hawk Crypto Mining" show on YouTube, joined "Greg Kelly Reports" on Thursday night to talk broadly about cryptocurrency as well as the Financial Innovation and Technology for the 21st Century Act that passed in the House on Wednesday, 279-136.
FIT21 classifies cryptocurrencies as a commodity, limits the role of the SEC and promotes innovation.
"This is amazing because we want common-sense framework when it comes to bitcoin and all other cryptocurrencies," Zuccarelli told Kelly. "What's labeled a commodity versus a security because honestly, the SEC is just playing this bullying tactic where they're going after projects, they're going after exchanges, and they're losing half the time in court because they're just bullying them into submission. We need common-sense framework. This bill will help lead the way.
"I mean, pure example is Coinbase, one of the largest exchanges in the world, which had to sue the SEC just for clarity on what to do. How do we regulate this? Finally, we got on the right track. We are going to get the clarity that we need," Zuccarelli said.
About NEWSMAX TV:
NEWSMAX is the fastest-growing cable news channel in America!
- Find Newsmax channel in your home via cable and satellite systems – More Info Here
- Watch Newsmax+ on your home TV app or smartphone and watch it anywhere! Try it for FREE -- See More Here: NewsmaxPlus.com
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
© 2025 Newsmax. All rights reserved.