What's up, my people! Get ready because I bring you big news that is making waves everywhere, one of those things that makes you think: could it finally happen for those in the crypto world? Look, the green money is moving strongly in Washington because the "Crypto Week" is coming, an event where congresspeople are focused on three bills that could change the game for Bitcoin and all those digital currencies.
The deal is as follows: the United States Congress, which sometimes moves slower than a turtle, now seems to have put the turbo on things. The House Financial Services Committee announced that starting July 14, they will begin discussing three laws that the crypto industry has been loudly demanding. The first is the CLARITY Law, which aims to clarify who regulates whom, if the SEC or the CFTC. Imagine that those in the industry say that the SEC has rules from almost a century ago that no longer work for new technologies. This law wants to give more power to the CFTC and provide some breathing room for projects that are already "mature" on the blockchain.
Next, we have the GENIUS Law, the most famous of the three, which is a regulatory framework for stablecoins. For those who don't know, those are the coins that always value one dollar, like Tether or USDC. This law wants companies that issue them to have real reserves, so we don't see what happened with some that went bust. It has already been approved by the Senate, so this one is rising like foam.
And the last one is one that is causing tremendous controversy, the State Anti-Surveillance Law for the CBDC. This is to abruptly stop any attempt by the U.S. government to create its own digital currency, the famous digital dollar. Supporters say it is to protect people's privacy, so the government doesn't spy on every transaction you make.
Now, the million-dollar question is: will they be approved or not? It's not that simple. Despite big players like Coinbase applying serious pressure and sending letters with a ton of signatures, there are those who don't see it positively. On one hand, we have Senator Elizabeth Warren, who is one of the biggest critics of crypto, saying that the CLARITY Law is a "gift" for big companies to escape regulation. There are organizations saying that all this is a plan by millionaires to get richer at the expense of the people.
But the other law, the one for stablecoins, the GENIUS, seems to have a better chance of passing, because in the Polymarket betting market, it has a 92% probability of being approved. Tremendous figure! 🤑 It's a tug of war that you don't want to miss. We'll see if the money and the lobbyists can really move Congress or if it all remains just talk. Stay tuned because this thing is heating up! 🔥$BTC $BOB $WHY
