legislative and regulatory leadership
The GENIUS Act: Passed by the US Congress, it became the first federal regulatory framework for stablecoins. The law requires these coins to be backed 1:1 by low-risk assets such as the US dollar and includes joint state and federal oversight.
White House Digital Policy Report: A comprehensive 160-page report described by industry insiders as the "bible" for cryptocurrency regulation calls for redefining digital assets, allowing banks to participate in the sector, and creating flexible regulatory sandboxes to foster innovation.
Influential Appointments: The digital policy framework is built around the US Vice President in the executive branch – and the one responsible for technology and digital currencies – David O. Sachs.
Executive Directives and Financial Services
401(k) Extensions: President Trump issued an executive order allowing alternative assets such as cryptocurrencies and private equity to be added to 401(k) retirement plans, a move that could inject trillions of dollars into this category. While it offers investment diversification, experts warn of the risks of these assets' liquidity and high costs.
Ending bank debanking: Trump issued a new executive order to evaluate and regulate the criteria banks use to close accounts of politically or ideologically motivated customers, a move the cryptocurrency industry sees as a step toward improving its institutional standing.
Cryptocurrency Advisor Resigns: Beau Hines, CEO of the White House Digital Advisors Council, has resigned after prominent contributions to legislation such as the GENIUS Act, leaving the position to return to the private sector while continuing to support the industry.
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Top news in the cryptocurrency market
Bitcoin rises amid political optimism: Bitcoin surpasses $118,000 amid a calmer economic outlook and supportive US regulatory changes.
Rapid growth of stablecoins: The issuance of stablecoins such as Circle and Tether has become more supportive of the US government's treasury than many other countries. These currencies have begun to penetrate key sectors of the US financial market through widespread holdings of government securities.
Banking challenges persist: Even with regulatory changes, banks continue to close cryptocurrency companies' accounts under the name "Operation Chokepoint," putting pressure on some to continue operating.
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Quick summary
US policy: New legislation and regulations supporting cryptocurrencies, including the GENIUS Act and White House reports, along with executive steps to expand citizen financial participation.
Cryptocurrency prices: Bitcoin surges, demand for stablecoins grows, despite ongoing banking challenges.
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