🚨 What Benefits Does the Stablecoin Bill Bring to the Crypto Space?
✌🏻Today, Trump officially signed the "Stablecoin Bill" at the White House, marking the implementation phase of stablecoin regulatory legislation in the United States.
So, what benefits does this bring to the crypto space?
In simple terms, once passed, it essentially means the government acknowledges stablecoins as compliant. Consequently, various financial institutions will start to adopt and issue their own stablecoins, and with an increasing number of users adopting stablecoins, we can say that the crypto space is gaining more users. With stablecoins in hand, can they directly purchase various cryptocurrencies? This could lead to a minor bull runs.
Additionally, it may encourage other countries (excluding China) to introduce their own stablecoin bills and adoption in the second half of this year or next year, bringing long-term benefits to cryptocurrency assets!
📊 The two other bills have passed the House and are headed to the Senate, where Republicans hold a narrow majority. Those bills would prevent the US central bank from establishing a digital currency and set up a regulatory framework for other forms of crypto.
The advance comes as Trump is reportedly working on an presidential order that could allow retirement accounts to be invested in private assets, such as crypto, gold and private equity.
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