Attention everyone, I'm here to drop a bombshell that is shaking the crypto ecosystem and defining the future of money as we know it. Hold on tight, because this just got serious.
It turns out that the United States House of Representatives has just given the green light to the famous "GENIUS Act" 🏛️. What does that mean? It means that the first major law on cryptocurrencies is one step away from becoming a reality. Now it just needs President Donald Trump's signature to come into effect. A historic moment, without a doubt! 🤯
This law primarily regulates stablecoins (such as Tether's USDT or Circle's USDC), finally establishing a clear legal framework for them to operate. After years of uncertainty and pressure, companies in the sector will have defined rules to expand.
But wait, there's more. Minutes earlier, they also approved another proposal, the "Clarity Act", which aims to bring order to the entire crypto market by defining what is a commodity and what is a security. Basically, it's to make sure the SEC and the CFTC stop fighting over who regulates what. However, this one still has to pass through the Senate, so we have to wait a little longer.
The "GENIUS Act" was approved with massive support (308 in favor and 122 against), demonstrating a desire to regulate the sector from both parties. However, not everything is rosy. Several Democrats raised alarms, stating that these rules could be dangerous for investors and favor Wall Street sharks.
And this is where things get spicy 🔥. All eyes are on Donald Trump. It is estimated that the president and his family have made a whopping 620 million dollars 💰 with crypto moves, including memecoins like "TRUMP" and "MELANIA", and even a stake in a Bitcoin mining company. Democratic representative Maxine Waters issued a very harsh warning, stating that if politicians are not excluded from these businesses, everyone will be "complicit in corruption". Strong! 😠
Meanwhile, the SEC chief, appointed by Trump, defends the law stating that it offers "clear rules of the game" ✅ and opens the door to faster, cheaper, and safer payment solutions for everyone.
The stage is set. A law is about to change everything for stablecoins, while the general market regulation is still in the works.
Now it's time to keep our eyes wide open to see how these new rules impact the market and who the real winners will be in this new chapter of the crypto-universe.$SOL $ETH
