BREAKING NEWS IN THE CRYPTO WORLD!
Attention all cryptocurrency enthusiasts! After a marathon session, the United States House of Representatives has greenlit three key bills related to cryptocurrencies: the Genius Act, the Clarity Act, and the Anti-CBDC Act. Of these, the one we are most interested in is the Genius project, which has already been approved in the Senate with a resounding vote of 308 in favor and 122 against. Now it just needs the signature of President Donald Trump to officially become law.
What does this mean for stablecoins? The Genius Act will establish the first federal legal framework for them. This means that stablecoin issuers will have to back 100% of the value of their coins with liquid assets, which gives us much more security. Additionally, the companies that issue them will be regulated, authorized, and subject to annual audits to ensure total transparency.
The main goal of all this is to generate more trust and certainty for us, the users, as well as for the companies. This will facilitate the mass adoption of this technology and the United States will position itself as a global leader in digital financial innovation. A big step for the future of finance!
