Brian Armstrong once again called for clear cryptocurrency regulations, urging US lawmakers to pass the CLARITY and GENIUS bills as soon as possible. In a new post, Armstrong mentioned that 52 million Americans now own cryptocurrency, saying they rely on Congress "to get this right."
His comments come after a significant step forward in cryptocurrency legislation, as the GENIUS Act - aimed at regulating stablecoins - heads to the Senate.
Chris Dixon supported the urgency of Armstr,ong in Anderson Horwitz, explaining what the GENIUS bill will achieve: consumer protection, long-term incentives for builders and American investors, and a legal framework that keeps cryptocurrency innovation within the United States.
If everyone wants a better internet, the way forward is to build blockchain networks in America, says Dixon.
The private sector is not waiting.
Shopify just introduced support for payments $USDC , meaning customers can now complete purchases using stablecoins on the Base network by Coinbase. Stripe will handle the backend - converting USDC to traditional currencies and settling in merchants' bank accounts across 34 countries.
Add to that the initial public offering of Circle earlier this month, which caused a 347% increase in its stock price, and analysts say regulatory clarity could boost US-based cryptocurrency companies.
In the meantime, Tether keeps an eye on the European Union, where a set of new rules is coming.
With the use of major platforms now for stablecoins and keeping up with regulations, the cryptocurrency market is preparing for a new era.
So, the message is very clear - there is a need for clear regulation to enter this era the right way.
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