⁉️⁉️⁉️What is digital asset bill and its impact on crypto market ❓️❓️
Key Digital Asset Bills
Digital Asset Market Structure and Investor Protection Act (H.R. 4741, H.R. 5745)
Overview: Introduced by Rep. Don Beyer (D-VA) in 2021 (H.R. 4741) and reintroduced in 2023 (H.R. 5745), this bill aims to integrate digital assets into existing U.S. financial regulatory frameworks, addressing market structure, investor protection, and anti-money laundering (AML).
Tax Reporting: Mandates IRS reports on digital asset ownership and taxes, enhancing transparency.
Status: Introduced but not passed in either Congress, referred to the Committees on Financial Services, Agriculture, and Ways and Means. Its provisions could be reintroduced in 2025, especially given Trump’s pro-crypto stance.
Impact on Crypto:
Clarity: Provides a clear regulatory framework, reducing ambiguity for assets like BTC and USDC.
Stablecoins: Enhances trust in USDC by mandating Treasury oversight, aligning with its current transparency (Deloitte audits).
Market Growth: Could foster innovation by integrating digital assets into TradFi, potentially boosting Binance airdrops for compliant tokens.
