Next week in the USA is declared as Crypto Week.
On the agenda are three main bills, namely:
The Stablecoin Act (GENIUS),
The Clarity Act
and The Anti-Government Surveillance Act through CBC.
The first bill, Genius (the most important), proposes:
Full backing of all stablecoins with liquid assets - US dollars or short-term bonds.
Mandatory monthly reporting.
Oversight powers over certain coins.
Strengthening controls on money laundering.
The second bill is designed to provide the much-needed clarity in the regulation of digital assets by defining their legal status and establishing guidelines for their use.
The third bill aims to
prohibit the Federal Reserve of the USA from issuing central bank digital currency directly to citizens.
All we can do is watch how this week will turn out for cryptocurrency:
the beginning of institutional order in the market, or yet another missed opportunity.
