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mithran12
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#DigitalAssetBill
Finally, some clear rules that can actually help crypto grow the right way. If this means fewer scams and more real adoption, I’m all for it. Big win for the space. Let’s see where it takes us!
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senators who initially supported it have reportedly raised concerns about certain aspects of the bill in its current form, particularly and
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#USStablecoinBill As of early May 2025, the United States Congress is actively working on legislation to establish a regulatory framework for stablecoins. There isn't a single, unified "US Stablecoin Bill" that has passed both chambers, but rather different bills are making their way through the House of Representatives and the Senate, with the goal of eventually reconciling them into a single piece of legislation. Two key bills are currently the focus of discussionThe STABLE Act: This bill has advanced through the House Financial Services Committee. The GENIUS Act: This bill has passed the Senate Banking CommitteeBoth bills aim to provide regulatory clarity for stablecoins, which are cryptocurrencies designed to maintain a stable value relative to a specific asset, typically the US dollar. Key aspects being addressed in these proposed laws include:Reserve Requirements: Both bills propose that stablecoin issuers must hold reserves that are at least equal to the value of the stablecoins they have issued, often specifying the types of safe and liquid assets that can be held as reserves (such as US dollars, government securities, and central bank reservesIssuance and Licensing: The legislation seeks to establish requirements for entities that wish to issue stablecoins, potentially including federal or state licensing and oversight by financial regulatoConsumer Protection: Provisions are being considered to protect consumers who use stablecoins. Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Measures: The bills aim to ensure that stablecoin activities comply with existing financial regulations to prevent illicit use.Recent developments indicate that while there is bipartisan support for regulating stablecoins, there are differences in the approaches taken by the House and Senate bills. Discussions are ongoing to bridge these differences and create a final bill that can be passed by both chambers and signed into law. Specifically, in the Senate, the GENIUS Act recently passed out of committee, but some
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EU privacy cainban
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#EUPrivacyCoinBan Prohibition of Anonymous Accounts: Financial entities and CASPs will not be allowed to maintain anonymous crypto accounts or provide services that enable the obfuscation of transactions. * Ban on Privacy Coin Transactions: Transactions involving cryptocurrencies specifically designed for anonymity, such as Monero and Zcash, will be prohibited for regulated entities within the EU. * Mandatory Identity Verification: The regulations introduce mandatory Know Your Customer (KYC) checks for cryptocurrency transfers exceeding 1,000 euros. * Establishment of AMLA: A new Anti-Money Laundering Authority (AMLA) will be established to directly supervise large, high-risk CASPs operating across multiple EU member states, ensuring consistent application and enforcement of the new rules. While the Markets in Crypto-Assets (MiCA) regulation provides a comprehensive framework for crypto-assets in the EU, the specific prohibition on privacy coins and anonymous accounts is a key component of the new AMLR, reflecting the EU's intensified focus on preventing the use of cryptocurrencies for illicit purposes. This development signifies a significant shift in the regulatory landscape for cryptocurrencies in Europe, prioritizing traceability and transparency over the privacy features offered by certain digital assets.
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#EUPrivacyCoinBan Yes, the European Union has introduced legislation that will effectively ban privacy coins and anonymous cryptocurrency accounts. Under the new Anti-Money Laundering Regulation (AMLR), financial institutions, banks, and Crypto Asset Service Providers (CASPs) operating within the EU will be prohibited from offering or managing anonymous accounts or wallets, including those utilizing privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash. This ban is set to come into effect from July 1, 2027. The primary objective behind this measure is to enhance financial transparency and bolster the fight against money laundering and terrorist financing within the cryptocurrency ecosystem. The EU aims to bring the crypto sector in line with the stricter Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) rules that already apply to traditional financial systems. Key aspects of the new regulations include:
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