#CryptoClarityAct
Crypto market capitalisation hits $4 trillion
Since then, crypto has been on a steady rise, accelerating rapidly after the coming to power of Trump and his pledge to the crypto speculators, of which he is one, raking in billions of dollars, to make the US the crypto capital of the world.
Three pieces of legislation have been presented. The so-called GENIUS Act, which has passed both the House and the Senate, facilitates the establishment of stablecoins that aid the entry of major finance houses, as well as non-financial corporations, into the crypto world.
The Clarity Act, which has passed the House and now awaits approval in the Senate, is possibly even more significant because it removes regulation of the crypto market from the Securities and Exchange Commission and gives it to the Commodity Futures Trading Commission, which is regarded as being more “crypto friendly.”
In comments to the New York Times, Kara Calvert, a top official at the major crypto exchange Coinbase, said it “has been absolutely the most important thing we have been pushing for.”
