$ETH
Just passed three historic cryptocurrency bills all at once, establishing new rules for the entire digital industry officially by Trump.
· First, let's talk about the most powerful Genius Act, which requires DTDC and similar items to be taken, otherwise it must be in US dollar cash or 100% short-term treasury bills as collateral, and the bills must be published every month. This can be understood as once you purchase DT or DC, you must buy more US dollars and US bonds, which will channel a lot of money from around the world.
Even harsher is the stablecoins with a market size exceeding $50 billion, which will require additional audits every year. Besides the two major ones, there are probably also two smaller ones, Buddha Bean USD and USD one, which will also undergo real and reliable scrutiny. So once this passes, DC will become the compliant number one, and it surged by 14%. The market is very welcoming; clear regulation is very welcomed.
Moreover, this bill also conveniently swept off the table the possibility of the Federal Reserve issuing a CBDC. Why did the Genius fail before? It was because they felt that while stabilizing the positions of DT and DC, they must guard against the Federal Reserve issuing a CBDC. So what did Trump do? He simply passed a bill saying don't issue CBDC, successfully persuading those who voted against it.
The entire thing took 9 hours of voting in the House of Representatives to pass. Next, the whole world needs to know that more than 98% of central banks are preparing CBDCs, and we have them too, but the Federal Reserve just won't allow it. The Federal Reserve can't issue it, but it has two giant stablecoins, which is quite clear, right? Everyone can just buy its stablecoins, no need to buy CBDC.
· Then there's the Clarity Act, which clarifies a regulatory boundary, meaning that things like Bitcoin and Ethereum will be handled by the SEC department, while everything will fall under the CFTC's jurisdiction, ensuring regulatory freedom in this area. Because compared to the SEC, the CFTC is like a younger brother and does not have as much regulatory power.
The three most important cryptocurrency bills have all passed; what else can Trump and his team do to revitalize the cryptocurrency market? Just wait; these people will definitely continue to stir things up.