The President of the USA, Trump, is personally promoting two new bills — GENIUS and CLARITY, which could completely change the role of cryptocurrencies in the economy.

CLARITY: crypto is not a security, but a commodity.

— Transforms cryptocurrencies into the category of commodities (like gold, oil, and wheat), rather than securities;

— This means: the SEC loses the ability to control the crypto market through the status of stocks;

— The decision removes risks similar to the case against the GRAM token from Telegram in 2020;

— Crypto officially exits the legal gray area in the USA;

— This is a precedent: for the first time, the state recognizes the independence of digital assets.

GENIUS: the return of private money and the death of SWIFT.

— Legalizes stablecoins and recognizes them as a full-fledged means of payment;

— Banks are allowed to issue their own stablecoins — this undermines the monopoly of the Federal Reserve;

— Transfers will be instant and without fees — without intermediaries like VISA and Mastercard;

— The classical banking system is losing relevance — and is preparing for restructuring;

— Bank of America has already announced the launch of its own stablecoin;

— J.P. Morgan issued a digital currency earlier — but so far only for closed transactions;

— The USA is forming a new financial architecture with global ambitions.