U.S. President Donald Trump is planning to allow pension funds, currently managing $8.7 trillion, to invest in alternative assets such as gold, private securities, and cryptocurrencies. This is a significant change, as these funds are currently only allowed to invest in bonds and large stocks. Many U.S. states have taken a step ahead, with North Carolina allowing 5% of pension fund assets into crypto, and Michigan and Wisconsin having invested millions of dollars into Bitcoin and Ethereum ETFs.
The House passed the Stablecoin bill and supported crypto tax exemptions.
In another important development, the U.S. House has passed the GENIUS Act on stablecoins with strong bipartisan support and is expected to be signed by President Trump on July 18. This is the first legal text on stablecoins in the U.S., stipulating that stablecoins must be 100% backed by USD or equivalent liquid assets, undergo regular audits, comply with AML, and not use reserve funds outside regulations.
The U.S. Congress is also considering two other crypto bills: the CLARITY Act (regarding crypto market structure) and the Anti-CBDC Act (prohibiting central banks from issuing national digital currencies). President Trump has repeatedly urged resolving differences to pass these bills soon to maintain the U.S.'s leading position in the digital asset space.
Additionally, the government #TRUMP also reaffirmed support for tax exemptions for low-value crypto transactions in the future, aiming to simplify the use of cryptocurrencies for everyday transactions. Although this provision was removed from the recent budget law, the White House is committed to continuing efforts to realize it. #anhbacong