#GENIUSActPass @btc | chachu Akbar on Binance Square

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#GENIUSActPass The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, has passed the U.S. Senate with a vote of 68-30. This bipartisan bill aims to establish a regulatory framework for payment stablecoins, providing clarity on issuance, reserves and transparency. Key aspects of the bill include ¹ ² ³: - *Regulatory Framework*: The GENIUS Act sets guidelines for stablecoin issuers, requiring 1:1 backing and regular audits. - *Oversight System*: Issuers will need to register with the government and comply with Anti-Money Laundering regulations. - *Consumer Protection*: The bill strengthens consumer protection and national security by regulating stablecoin issuers. *Implications* - *Dollar Dominance*: The GENIUS Act could solidify the dollar's role in the digital economy and lay the groundwork for a more structured global financial framework. - *Institutional Adoption*: Clear regulations may boost institutional investment in stablecoins and the broader cryptocurrency market. - *Next Steps*: The bill now moves to the House of Representatives for further consideration ⁴. *Key Players* - *Senator Bill Hagerty*: Introduced the GENIUS Act and championed its passage in the Senate. - *Chairman Tim Scott*: Supported the bill and highlighted its importance for financial innovation, consumer protection and economic opportunity ⁵.

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Vietnam has made significant strides in cryptocurrency regulation with the passage of the Law on Digital Technology Industry. Here's a breakdown of the country's crypto policy ¹ ²: - *Recognition of Crypto Assets*: The law officially recognizes cryptocurrency and digital assets, providing a clear definition and classification system. It distinguishes between "virtual assets" (non-financial tokens, loyalty points, and digital goods) and "crypto assets" (assets based on cryptographic technologies and distributed ledgers, like Bitcoin and NFTs). - *Regulatory Oversight*: The government will outline specific business conditions, classifications, and oversight mechanisms for digital assets. The law also mandates cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms. - *Incentives for Tech Development*: The law introduces sweeping incentives for enterprises working in AI, semiconductors, and digital infrastructure, including: - *Tax Breaks*: Companies in these sectors will receive tax breaks to encourage growth and innovation. - *Land-Use Benefits*: Favorable land-use policies will support the development of digital infrastructure. - *R&D Support*: Grants and funding will be available for research and development in emerging technologies. - *Workforce Development*: Regional governments will support workforce development through subsidies and training programs, while education policies will integrate digital tech skills into national curricula. - *Consumer Protection*: The law strengthens user protection by addressing recent episodes of massive fraud in the crypto sector and imposing stringent cybersecurity processes. - *International Standards*: Vietnam aims to improve its position after being placed on the Financial Action Task Force's (FATF) "gray list" in 2023 by aligning its regulations with international best practices. The law takes effect on January 1, 2026, and is expected to position Vietnam as a regional leader in blockchain innovation and digital asset adoption ² ³.#StopTrading

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#FOMCMeeting Vietnam has made significant strides in cryptocurrency regulation with the passage of the Law on Digital Technology Industry. Here's a breakdown of the country's crypto policy ¹ ²: - *Recognition of Crypto Assets*: The law officially recognizes cryptocurrency and digital assets, providing a clear definition and classification system. It distinguishes between "virtual assets" (non-financial tokens, loyalty points, and digital goods) and "crypto assets" (assets based on cryptographic technologies and distributed ledgers, like Bitcoin and NFTs). - *Regulatory Oversight*: The government will outline specific business conditions, classifications, and oversight mechanisms for digital assets. The law also mandates cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms. - *Incentives for Tech Development*: The law introduces sweeping incentives for enterprises working in AI, semiconductors, and digital infrastructure, including: - *Tax Breaks*: Companies in these sectors will receive tax breaks to encourage growth and innovation. - *Land-Use Benefits*: Favorable land-use policies will support the development of digital infrastructure. - *R&D Support*: Grants and funding will be available for research and development in emerging technologies. - *Workforce Development*: Regional governments will support workforce development through subsidies and training programs, while education policies will integrate digital tech skills into national curricula. - *Consumer Protection*: The law strengthens user protection by addressing recent episodes of massive fraud in the crypto sector and imposing stringent cybersecurity processes. - *International Standards*: Vietnam aims to improve its position after being placed on the Financial Action Task Force's (FATF) "gray list" in 2023 by aligning its regulations with international best practices. The law takes effect on January 1, 2026, and is expected to position Vietnam as a regional leader in blockchain innovation and digital asset adoption ² ³.

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#VietnamCryptoPolicy Vietnam has made significant strides in cryptocurrency regulation with the passage of the Law on Digital Technology Industry. Here's a breakdown of the country's crypto policy ¹ ²: - *Recognition of Crypto Assets*: The law officially recognizes cryptocurrency and digital assets, providing a clear definition and classification system. It distinguishes between "virtual assets" (non-financial tokens, loyalty points, and digital goods) and "crypto assets" (assets based on cryptographic technologies and distributed ledgers, like Bitcoin and NFTs). - *Regulatory Oversight*: The government will outline specific business conditions, classifications, and oversight mechanisms for digital assets. The law also mandates cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms. - *Incentives for Tech Development*: The law introduces sweeping incentives for enterprises working in AI, semiconductors, and digital infrastructure, including: - *Tax Breaks*: Companies in these sectors will receive tax breaks to encourage growth and innovation. - *Land-Use Benefits*: Favorable land-use policies will support the development of digital infrastructure. - *R&D Support*: Grants and funding will be available for research and development in emerging technologies. - *Workforce Development*: Regional governments will support workforce development through subsidies and training programs, while education policies will integrate digital tech skills into national curricula. - *Consumer Protection*: The law strengthens user protection by addressing recent episodes of massive fraud in the crypto sector and imposing stringent cybersecurity processes. - *International Standards*: Vietnam aims to improve its position after being placed on the Financial Action Task Force's (FATF) "gray list" in 2023 by aligning its regulations with international best practices. The law takes effect on January 1, 2026, and is expected to position Vietnam as a regional leader in blockchain innovation and digital asset adoption ² ³.#BinanceAlphaAlert

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#MetaplanetBTCPurchase Vietnam has made significant strides in cryptocurrency regulation with the passage of the Law on Digital Technology Industry. Here's a breakdown of the country's crypto policy ¹ ²: - *Recognition of Crypto Assets*: The law officially recognizes cryptocurrency and digital assets, providing a clear definition and classification system. It distinguishes between "virtual assets" (non-financial tokens, loyalty points, and digital goods) and "crypto assets" (assets based on cryptographic technologies and distributed ledgers, like Bitcoin and NFTs). - *Regulatory Oversight*: The government will outline specific business conditions, classifications, and oversight mechanisms for digital assets. The law also mandates cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms. - *Incentives for Tech Development*: The law introduces sweeping incentives for enterprises working in AI, semiconductors, and digital infrastructure, including: - *Tax Breaks*: Companies in these sectors will receive tax breaks to encourage growth and innovation. - *Land-Use Benefits*: Favorable land-use policies will support the development of digital infrastructure. - *R&D Support*: Grants and funding will be available for research and development in emerging technologies. - *Workforce Development*: Regional governments will support workforce development through subsidies and training programs, while education policies will integrate digital tech skills into national curricula. - *Consumer Protection*: The law strengthens user protection by addressing recent episodes of massive fraud in the crypto sector and imposing stringent cybersecurity processes. - *International Standards*: Vietnam aims to improve its position after being placed on the Financial Action Task Force's (FATF) "gray list" in 2023 by aligning its regulations with international best practices. The law takes effect on January 1, 2026,is expected to position Vietnam as a regional leader in blockchain innovation and digital asset adoption ² ³.

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