🧩 What does this law imply?
- Defines clear competencies between the SEC and the CFTC: the SEC retains investment contracts, while the CFTC will oversee the spot markets for cryptos like BTC, ETH, XRP, and DOGE.
- Classifies digital assets into three categories: digital products, securities, and stablecoins, each with its regulatory framework.
- Protects self-custody, allowing users and companies to manage their wallets without intermediaries.
- Fosters innovation by reducing legal ambiguity and facilitating the development of new business models.
📈 Market reaction
After the approval, tokens like ETH, DOGE, and ADA rose between 5% and 11%, reflecting optimism for a clearer and more favorable environment for institutional investment.
🔮 What's next?
Although the Senate vote is still pending, bipartisan support suggests it could become law before the end of the legislative session. If approved, the U.S. could solidify its position as a global leader in digital finance.
