$BTC

🏛️ U.S. House of Representatives 'CLARITY Act' Progress

• On June 10, the House Financial Services Committee will mark up the 'CLARITY Act', an important step towards establishing a clearer regulatory framework for the crypto market (including DeFi, Bitcoin, Ethereum, and stablecoins).  

• The bill aims to delineate the regulatory responsibilities of the SEC and CFTC regarding crypto assets. It is currently under review and will require a vote by the full House afterwards.  

⸻

🏦 Stablecoin Bill Moves Forward

• The Senate's 'GENIUS Act' (Guiding and Establishing National Innovation for US Stablecoins Act) has passed a procedural vote (66 to 32) and is about to enter further deliberation.    

• The bill requires stablecoins to be backed by highly liquid assets (dollars, T-bills), aimed at enhancing market stability and trust, while also anticipating an increase in demand for U.S. short-term government bonds in the future.  

⸻

🌎 Local and International Crypto Business Dynamics

• California Crypto Regulation: California has established a dedicated regulatory body, but currently faces interruptions and funding bottlenecks, with the implementation date pushed to July 2026. 

• New Hampshire Bitcoin Reserve: Becomes the first state in the U.S. to sign legislation allowing state public funds to invest in Bitcoin, creating a precedent for 'strategic Bitcoin reserves'. 

⸻

📈 Institutional and Market Impact

• Circle IPO: U.S. stablecoin issuer Circle successfully went public, raising $105 million, with stock prices soaring, reflecting the institutionalization trend in the crypto market.  

• Boost in Institutional Confidence: If the 'CLARITY Act' is passed and the stablecoin bill moves forward, it will enhance overall market confidence and the legitimacy of investments.