Stablecoin Legislation
1. Trump plans to sign an executive order to open cryptocurrency investments in the retirement market
According to the Financial Times, Trump is preparing to open cryptocurrency, gold, and private equity to the $9 trillion U.S. retirement market, a move that will stimulate a fundamental shift in how Americans manage their savings. According to three people familiar with the matter, Trump is expected to sign an executive order as early as this week to open alternative investments beyond traditional stocks and bonds for 401k retirement plans. These investments will encompass a wide range of asset classes, from digital assets to metals, as well as funds focused on corporate acquisitions, private loans, and infrastructure transactions. The aforementioned insiders stated that the executive order will instruct regulators to investigate the barriers faced by professionally managed funds that include alternative investments for 401k savers.
2. U.S. House of Representatives passes the CLARITY Act, clarifying the digital asset market structure
On July 18, as reported by Bitcoin Laws, the U.S. House of Representatives passed the CLARITY Act to regulate the structure of the digital asset market. -Original
3. Coinbase CEO states that cryptocurrency legislation will provide clear direction for the industry
Coinbase (COIN.O) CEO: Trump has been committed to promoting the widespread adoption of cryptocurrency. Legislation related to cryptocurrency will provide clear information for the industry. Relevant legislation will help protect the cryptocurrency sector from similar influences as seen during the Biden administration.
4. Federal Reserve's Daly states that two rate cuts this year are a reasonable expectation
On July 18, Federal Reserve's Daly stated that two rate cuts this year are a reasonable expectation.
5. Three major bills during the U.S. 'Crypto Week'
On July 17, the latest progress of three major related bills during the U.S. 'Crypto Week' is as follows: The core of the GENIUS Act is to clarify the regulatory framework for stablecoins, which has currently passed the House debate and is entering the formal review stage, with a final vote expected on July 18; The core of the CLARITY Act is to clarify the classification of digital assets, the division of regulatory responsibilities, and compliance pathways, which has not yet passed the House debate, and if smoothly passed, will proceed to the final vote in the House; The core of the Anti-CBDC Surveillance National Act is to prohibit the U.S. from creating a central bank digital currency, which has not yet passed the House debate, but has received a commitment to include the anti-CBDC provisions in the defense authorization bill.