Breaking! The United States cryptocurrency regulation is undergoing a major transformation.

Family, the Crypto Assets world has recently been tumultuous, and the United States has dropped a heavy bomb 💣, kicking off the "Crypto Assets Week", which may become a key turning point in U.S. Crypto Assets regulation.
On July 17, local time, the U.S. House of Representatives was quite active. With a result of 308 votes in favor and 122 votes against, the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" was passed, also known as the famous "Genius Act" 🎉. This act is quite significant; it’s like putting a leash on the "naughty child" of stablecoins. It stipulates that only licensed banks or approved payment institutions are eligible to issue stablecoins, and they must hold 100% U.S. dollar cash or U.S. Treasury bonds as reserves, as well as undergo regular audits and information disclosures. With this, the barriers to entry in the stablecoin market have been raised. Compliant issuers like Circle (USDC) are surely pleased, while non-compliant stablecoins like Tether (USDT) may have a tough time ahead, possibly facing marginalization or even being banned from entering the U.S. market.
On the same day, the House of Representatives passed the "Clarity Act" with 294 votes in favor and 134 votes against. This act mainly concerns the struggle for regulatory authority; it clarifies the commodity attributes of crypto assets as digital assets, categorizing tokens like Bitcoin and Ethereum that meet the definition of "mature blockchain" as commodities, regulated by the Commodity Futures Trading Commission (CFTC); whereas securities tokens issued through investment contracts will be overseen by the U.S. Securities and Exchange Commission (SEC). This distinction directly challenges the SEC chairman's previous regulatory logic of "comprehensive securitization," weakening the SEC's regulatory power and providing clearer regulation for the crypto assets market 🧐.
In addition, the "Anti-CBDC Act" has also passed in the House of Representatives and has been sent to the Senate for review. It mainly prohibits the Federal Reserve from issuing retail Central Bank Digital Currency (CBDC) without congressional authorization, which is aimed at protecting citizens' privacy rights and financial freedom, establishing a "protective wall" for Crypto Assets 🛡.
This time during "Crypto Assets Week", the passage of three bills in the House of Representatives carries profound implications. For the United States, on one hand, it aims to consolidate the dominance of the dollar in the digital age, constructing a "digital Bretton Woods system" by linking stablecoins to U.S. Treasury bonds to expand the demand for the dollar. On the other hand, it also seeks to leverage encryption to alleviate its own debt crisis.
However, these three bills did not pass smoothly; the process was quite bumpy. At first, the procedural vote encountered setbacks, but fortunately, Trump personally stepped in to coordinate, and it was eventually passed successfully. This also indicates that the road to Crypto Assets regulatory reform is not smooth; in the future, during the Senate review stage, what challenges will the "Clarity Act" and the "Anti-CBDC Act" face? It really makes people look forward to it! #BTC# #ETH# #PI#