#加密立法新纪元 New Era of Cryptocurrency Legislation: Reshaping Rules and Industry Transformation!

The three pieces of legislation passed during the U.S. 'Cryptocurrency Week' mark the substantial establishment of a cryptocurrency regulatory framework, opening a new era of global cryptocurrency legislation that will profoundly influence the direction of the industry.

"Guidance and Establishment of the U.S. National Stablecoin Innovation Act"

("Genius Act"), requires stablecoin issuers to obtain federal or state-level licenses and hold reserves of U.S. dollars, bank deposits, or short-term U.S. Treasury bonds at a 1:1 ratio, enhancing the safety of funds, incorporating digital assets into the U.S. sovereign credit system, consolidating the dollar's hegemony in the digital age, creating demand for U.S. Treasury bonds, and helping to resolve the debt crisis.

"Digital Asset Market Clarity Act" ("Clarity Act"), clarifies the commodity nature of cryptocurrencies, divides the regulatory responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), weakens SEC regulatory power, and provides clear rules for the cryptocurrency market.

"Anti-Central Bank Digital Currency Monitoring National Act" ("Anti-CBDC Act"), prohibits the Federal Reserve from issuing retail central bank digital currency without authorization, protects citizens' privacy and financial freedom, and builds a 'protective wall' for cryptocurrencies.

The passage of these three bills enhances the legitimacy of the cryptocurrency market, boosts investor confidence, drives prices up, and leads to a collective surge in cryptocurrencies. It also prompts changes in the competitive landscape of the industry, with compliance costs eliminating small issuers, and giants potentially dividing the market. The global regulatory wave resonates, with countries accelerating the improvement of regulatory frameworks, as the industry moves towards a golden period of compliance, expected to attract more traditional funds into the market and promote the integration of cryptocurrencies into the mainstream financial system.