The three major crypto bills in the United States are quite interesting, and they can be regarded as setting rules for the chaotic market. The GENIUS Act targets stablecoins, requiring them to be 100% supported by cash or US bonds, and directly banning algorithmic stablecoins. This can prevent tragedies like the Terra collapse, but without user redemption guarantees and deposit insurance, it may allow large companies to monopolize the market. The CLARITY Act is to divide the territory, clearly stating that the SEC is in charge of security tokens and the CFTC is in charge of commodities, and the "degree of decentralization" is used to draw the line. The advantage is that projects have a way to comply with regulations and users' self-custody rights are protected, but the SEC will definitely keep an eye on those fake decentralized projects, and subsequent friction is inevitable. The Anti-CBDC Act is the most powerful, permanently banning the Federal Reserve from issuing digital currencies, on the grounds of fearing that the government monitors transactions. Protecting privacy is a good thing, but directly blocking CBDC may slow down the process of digitalization of the US dollar and affect international competitiveness.
Overall, the United States wants to put a 🐉 leader on the crypto market, with the direction of preventing risks, drawing boundaries, and protecting privacy. The compliance costs of enterprises are bound to rise, and innovations such as algorithmic stablecoins are directly cut off. The advantage is that the rules are clear, and big funds may be more willing to enter the market. However, these bills still have to pass the Senate, and there are still many variables. If they really come to fruition, the market may shake in the short term, but in the long run, clear supervision may not be a bad thing for the industry.
So next, I will analyze the situation and situation very seriously, and strive to avoid this wave of us missing out!
