Chamber of US representatives Three significant songs have passed This week, legislation, which many in the cryptographic industry call the most influential cryptocurrency policy week in the latest memory.
The bills are aimed at focusing on the structure of the cryptocurrency market, Stablecoin regulation and preventive block in relation to the digital dollar. Although everyone deals with a different segment of the cryptocurrency ecosystem, he jointly indicates an improvement in sentiments among legislators regarding the growing cryptocurrency industry.
House exceeds the brightness, genius and anti-CBDC bills
First of all, the Chamber gave a noisy green airy to the digital market Act (Clarity), which passed in a double -sided voice 294–134. The Act was created to determine how cryptocurrencies should be classified or as securities in accordance with SEC, or as goods under CFTC. The passage of this project is the main milestone to ensure regulatory transparency to both investors and innovators, which has long defined the cryptographic sector in the US. Despite receiving support from almost 80 democrats, the invoice was not without objection. Critics such as a representative of Maxine Waters argued that legislation It can allow harmful gaps that weaken the protection of retail investors.
Meanwhile, the Genius Act (conducting and establishing national innovations for American Stablecouins) sailed through the legislative chamber with even greater support. After cleaning the Senate in June in June 68–30, the Chamber added its approval with a result of 308–122. The genius act is strict handrails around Stablecouins, Must meant to fully restore their tokens with reserves, they undergo monthly audits and follow the key framework of counteracting money laundering and consumer protection. The culmination of his rapid passage by President Trump Signing it July 18, which makes him the first vital federal regulation specially adapted to digital assets.
The account trio is complemented by the controversial Act on the anti-CBDC state, which adopted a narrower margin 219–210. This Act proposes to block the federal reserve before issuing the digital currency of the central bank. Account supporters say that a digital dollar will enhance the supervision of state financial finances. On the other hand, legislation reduces the Fed’s ability to respond Global trends in central banking, Especially since countries like China continue Developing your own CBDCS.
What next?
At the moment, the genius act regulating Stablecoin is already in force. However, the Act on clarity and the Anti-CBDC Act will now move to the Senate, where their fate is less certain. Interestingly, the dynamics of voting in the House of Representatives shows that many democratic legislators are positive about the cryptocurrency market.
Over 100 democrats voted positively for the Genius Act, and 78 supported the Lightness Act. The Senate is expected to examine the other two bills more carefully. However, there is a good chance that both bills will be adopted without hiccups.
Market reaction to messages He was a bit mixed. Bitcoin still trades slightly above USD 118,000. Ethereum initially increased Up to USD 3670, but now about USD 3500 trades back.
A distinguished picture from Getty Images, chart from TradingView.com
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