U.S CONGRESS MOVES TO INTRODUCE NEW CRYPTO LEGISLATION!

The US Congress is indeed moving to introduce new crypto legislation, with several bills in the works. Here are some key developments :

Stablecoin Regulation Bill: The Senate has advanced the GENIUS Act, a bipartisan bill aimed at regulating stablecoins, which are cryptocurrencies pegged to the value of the US dollar. This bill aims to protect consumers and foster responsible innovation.

FIT21 Act: The US Congress is set to focus on cryptocurrency legislation in 2025, particularly stablecoins and the FIT21 Act. Rep. French Hill, expected to lead the House Financial Services Committee, is pushing for clear rules regarding digital assets.

Regulatory Jurisdiction: Senators Cynthia Lummis and Kirsten Gillibrand have proposed a revised bill clarifying the regulatory jurisdiction of the CFTC and SEC in the US crypto market. The bill would give the CFTC jurisdiction over digital assets traded on decentralized exchanges, while the SEC would oversee assets before networks are deemed functional and decentralized.

Potential Roadblocks: Despite the progress, there are potential roadblocks ahead, including concerns about crypto exploitation and the need for further negotiations and revisions.

Some key players involved in shaping crypto legislation in the US Congress include :

Senator Cynthia Lummis: A key proponent of crypto legislation, Lummis has introduced bills aimed at clarifying regulatory jurisdiction and promoting responsible innovation.

Senator Kirsten Gillibrand: A co-sponsor of the GENIUS Act, Gillibrand emphasizes the importance of consumer protection and maintaining the dominance of the US dollar.

Rep. French Hill: As a potential leader of the House Financial Services Committee, Hill is pushing for clear rules and regulations for digital assets.#SaylorBTCPurchase #TRUMP #CEXvsDEX101 #MarketPullback #MyCOSTrade $BTC