digital currency
The crypto world in the United States (US) enters a new chapter and is increasingly in demand.
The passing of stablecoin rules not only benefit Bitcoin but also many other cryptos, including Ethereum.
For the first time, the US House of Representatives (DPR) officially ratified two important laws that will form a new regulatory framework for digital assets, especially stablecoin and the Central Bank Digital Currency (CBDC).
This step is a milestone in the efforts of Uncle Sam's country regulating the rapidly developing crypto sector, but so far it has faced legal uncertainty and weak protection for consumers. In the middle of increasing stablecoin adoption and concerns about the potential misuse of digital technology by the state, the presence of regulations that clearly becomes an urgent need.
The ratified main law was Clarity Act, which passed with the support of Bipartisan 294 votes against 134. This bill will explicitly define whether a digital asset is classified as a commodity effect or commodities, as well as clarifying jurisdiction between the Securities Commission and the Commission for the Time Commodity (CFTC).
During the Biden government, this issue became a source of major disputes between the regulators and the crypto industry.
Many crypto companies argue that the majority of tokens should be categorized as commodities, not effects, so that they can be traded without complicated securities regulation loads.
The importance of Clarity Act lies in its ability to provide legal certainty for the digital asset industry players, especially in determining whether an asset is classified as securities or commodities.
This law also plays an important role in preventing overlapping authority between regulators, such as between Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), which has been a source of regulatory uncertainty.
With this clarity, Clarity Act is expected to encourage more broad digital asset adoption in the formal financial system, as well as creating a safer, transparent and competitive ecosystem.
However, this bill must still be approved by the senate before reaching the desk of President Donald Trump to be passed into a law.
Some Democratic Party members opposed it because they were considered too "soft" to the crypto industry, even considered a "gift" for companies related to Trump.
Another crucial part of this legislation package is Genius Act, which specifically regulates the stablecoin of digital assets whose value is pegged in currencies such as US dollars.
Stablecoin plays an important role in the crypto ecosystem because it allows instant, stable, and cross -platform transactions.
They are generally used by traders to transfer funds between tokens or make payments in real-time.
Important content in Genius ACT, among others, regulates that every stablecoin issued must be fully supported by liquid asset reserves, such as US dollars or short -term government debt securities.
It aims to maintain stable stablecoin values and avoid systemic risk.
In addition, stablecoin publishers are required to routinely reveal the reserve composition to the public every month to increase transparency.
This step is considered very important to encourage market trust and create a healthy foundation for the growth of stablecoin in the future.
Summer Mersinger, Commissioner at CFTC and former high -ranking officials at the Futures Trading Commission, called this endorsement as a "determining moment" in the evolution of US digital asset policies, quoted from Reuters
1 Bitcoin (BTC) $117,567.27 2,339.07 38,126.90
2 Ethereum (ETH) $3,779.06 456.17 7,435.67
3 XRP (XRP) $3.54 209.71 3,418.29
4 Tether (USDT) $1.00 161.71 2,635.99
5 Solana (SOL) $203.62 109.56 1,785.85
6 BNB (BNB) $769.99 107.25 1,748.21
7 USD Coin (USDC) $0.9998 64.69 1,054.52
8 Dogecoin (DOGE) $0.2708 40.68 663.15
9 Cardano (ADA) $0.9015 31.91 520.21
10 TRON (TRX) $0.3136 29.71 484.30
