What is the #USCryptoWeek ? Why has $BTC hit a record high?
💰 Bitcoin has just hit $120,000 for the first time, marking a major milestone as the US enters "Crypto Week." This week, key digital asset laws will be debated, potentially reshaping the future of crypto in the US.
📅 What’s Happening During Crypto Week?
Starting July 14, the US House of Representatives will discuss 3 critical bills:
⚖️ The GENIUS Act
Clarifies when digital assets like crypto tokens are securities or commodities, helping startups with legal certainty.
🧐 The Clarity Act
Prevents federal agencies from overextending their power, ensuring Congress sets crypto rules, not the courts.
🔒 The Anti-CBDC Surveillance State Act
Blocks the Federal Reserve from issuing a central bank digital currency (CBDC), citing concerns over privacy.
📈 Why the Bitcoin Surge?
Bitcoin has surged 29% this year, reaching a record-high of $122,055. This rise follows optimism about regulatory clarity. The total crypto market now stands at $3.8 trillion, with Ether and other coins also seeing gains.
🇺🇸 Trump’s Crypto Push
Former President Trump has become a vocal supporter of crypto. During his 2024 campaign, he accepted crypto donations and promised to make the US the "crypto capital of the world." He also proposed creating a crypto reserve with Bitcoin.
❗ Criticism and Concerns
Senator Elizabeth Warren warns the bills may weaken securities laws and protections against fraud. She calls for anti-money laundering measures in the crypto space.
🧐 Conclusion
"#USCryptoWeek " could be a game-changer for the future of cryptocurrencies in the US, with Bitcoin and the market poised for significant growth.
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