🔥The U.S. Congress is accelerating the passage of cryptocurrency laws!
The U.S. Congress is racing to finalize cryptocurrency bills, aiming for passage before the August 2025 recess.
This move is intended to establish a clear legal framework, promote innovation in the digital asset space, and maintain the U.S.'s leading position globally.
🔍 Key Points:
- GENIUS Act: A proposed regulation requiring stablecoins to have 1:1 reserves, and protecting consumer rights in the event of issuer bankruptcy.
- STABLE Act: A proposal to establish a legal framework for issuing and trading stablecoins backed by the U.S. dollar.
- Statement from Senator Tim Scott: Confident that the cryptocurrency market structure bill will be passed as planned.
🎯 Major Implications:
- Shaping the future of stablecoins and digital financial products.
- Providing reassurance to businesses and investors when operating in a clearer environment.
Paving the way for a wave of technological and financial innovation in the U.S.
📌 Source: Cointelegraph - Senator Tim Scott confident market structure bill passed by August