The cryptocurrency market receives good news as the state of Oregon passes Bill SB 167, updating the Uniform Commercial Code to officially recognize digital assets like crypto. This is a major step forward, promising a bright future for the industry in the long term.
Clear Legal Framework: A Stepping Stone for Crypto
Bill SB 13 recognizes digital assets as legal collateral, while providing specific regulations regarding control rights, transfer, and priority order. This legal clarity helps reduce risks for investors and businesses, creating a safe environment for applying crypto in commerce. Oregon, with its pioneering move, could inspire other states in the U.S. to promote nationwide acceptance of crypto.
Long-Term Impact: Increasing Confidence and Adoption
The new regulations reinforce institutional confidence, as seen with the crypto fund cash flow reaching $3.4 billion last week and Bitcoin ETFs attracting $1.8 billion. With a supportive legal framework, crypto can expand in digital finance, DeFi, and Web3. The forecast of accumulating $330 billion into Bitcoin by 2029 (Bernstein) further confirms growth potential, especially as states like New Hampshire (holding $181 million in Bitcoin) also join the trend.
Conclusion: Crypto is Ready to Take Off
Bill SB 167 is a significant milestone, providing legal stability and paving the way for widespread adoption of crypto. With the current growth momentum, the cryptocurrency market is on the verge of a breakout, promising a bright future in the next 5-10 years. Investors can be optimistic about the long-term potential of the industry!
Risk Warning: Investing in crypto carries high risks due to price volatility and legal uncertainties. Please consider carefully before participating.