The Birth of a Parallel Settlement Financial System
Here are the laws that support this hypothesis and create a transparent institutional infrastructure for a new type of settlements:
Anti-CBDC Act (Anti-CBDC Surveillance State Act) — a bill that prohibits the Federal Reserve (the central bank of the United States) from issuing a central bank digital currency (CBDC) and using it for monetary policy. The Anti-CBDC Act is under consideration in the Senate.
Genius Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) — a law that allows retail issuance of stablecoins by large companies and banks. The law has already been signed by the President of the United States and is in effect.
Clarity Act (Digital Asset Market Clarity Act) — a bill that brings cryptocurrency into the legal realm of financial settlements and clearly outlines who regulates various types of digital assets and how. The Clarity Act is under consideration in the Senate.
