Cryptocurrency Week in the United States takes place from July 14 to discuss three important bills that promote the legal framework for cryptocurrency and stablecoins.
The event has garnered significant interest as lawmakers clash and Bitcoin prices surge, creating a turning point in the legal corridor and investor confidence in stablecoins.
MAIN CONTENT
The U.S. holds Cryptocurrency Week with three key bills.
The bill faces obstacles from both Republican and Democratic lawmakers.
Bitcoin prices and confidence in stablecoins have been boosted by expectations of new laws.
What has happened during Cryptocurrency Week so far?
This is an important event aimed at introducing new regulations on cryptocurrency, attracting close attention from global investors and financial experts.
The week began with discussions on three bills: the GENIUS Act, the CLARITY Bill, and the Anti-CBDC Surveillance Act, focusing on refining the legal environment for cryptocurrency in the United States.
What does the President of the United States think about Cryptocurrency Week?
Mr. Donald Trump has made a strong statement supporting Cryptocurrency Week, seeing it as an opportunity for the U.S. to lead globally in digital.
This is our moment — Digital assets, GENIUS, clarity! Everything contributes to making America great again, stronger than ever.
Donald Trump, former President of the United States, July 15, 2024
He emphasized the importance of passing the bills to elevate the United States' position on the global cryptocurrency map while calling for support from Republican lawmakers in the House.
Why are these bills being obstructed by Republican and Democratic lawmakers?
After hours of debate, a group of 13 Republican lawmakers allied with Democrats to prevent the bill from being brought to a vote, reflecting deep divisions in Congress.
Previously, congressional leaders referred to this week as the 'anti-corruption cryptocurrency week' to warn of the potential negative impacts of the bills and the political intentions that could affect the U.S. cryptocurrency market.
What impact does Cryptocurrency Week have on Bitcoin trading?
Expectations for clear regulations have spurred a spike in Bitcoin trading, achieving transaction levels above $120,000 on the very first day of the week.
This volatility reflects positive investor sentiment ahead of potential changes in the legal corridor, contributing to Bitcoin's standing in the global cryptocurrency market.
What changes help strengthen investor confidence in stablecoins?
The GENIUS Act is seen as a significant milestone in establishing a robust legal framework for USD-pegged stablecoins, paving the way for companies to issue digital USD.
The GENIUS Act has instilled strong confidence in investors regarding stablecoins by providing clarity and transparency in regulation.
Mr. Xu Han, Director of Liquid Fund at HashKey Capital, 2024
This is a crucial step to address lingering legal issues and prepare for the sustainable development of the cryptocurrency ecosystem in the U.S.
Frequently Asked Questions
What is Cryptocurrency Week in the United States? It is a week-long event to discuss bills related to cryptocurrency and stablecoins to refine the legal framework in the United States.
Why might these bills be blocked in the U.S. Congress? Some lawmakers from both parties are skeptical about the legal and political implications, leading to the bills not being brought to a vote.
How does Cryptocurrency Week affect Bitcoin? Expectations for legal updates have caused Bitcoin prices to surge above $120,000 in the early days of the week.
What benefits does the GENIUS Act bring to stablecoins? This bill creates a clear legal framework, enhancing confidence in USD-pegged stablecoins, helping to promote issuance and digital trading.
Who is the expert who appreciates the GENIUS Act? Mr. Xu Han, Director of Liquid Fund at HashKey Capital, positively evaluates the impact of this bill on investor confidence.
Source: https://tintucbitcoin.com/bitcoin-bung-no-nho-du-luat-my/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
