#加密立法新纪元 Reshaping Rules and Industry Transformation!

The three pieces of legislation passed during the U.S. "Cryptocurrency Week" mark the substantial implementation of a cryptocurrency regulatory framework, opening a new era of global cryptocurrency legislation with far-reaching impacts on the industry's direction.

"Guidance and Establishment of the U.S. Stablecoin National Innovation Act"

("Genius Act"), requires stablecoin issuers to obtain federal or state-level licenses, holding reserves of cash, bank deposits, or short-term U.S. Treasury bonds in a 1:1 ratio to enhance fund security, incorporate digital assets into the U.S. sovereign credit system, solidify the dollar's hegemony in the digital age, create demand for U.S. debt, and help resolve the debt crisis.

"Digital Asset Market Clarity Act" ("Clarity Act"), clarifies the commodity nature of cryptocurrencies, delineates the regulatory responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), weakens SEC's regulatory power, and provides clear rules for the cryptocurrency market.

"Anti-Central Bank Digital Currency Monitoring National Act" ("Anti-CBDC Act"), prohibits the Federal Reserve from issuing retail central bank digital currency without authorization, protects citizens' privacy and financial freedom, and builds a “protective wall” for cryptocurrencies.

The passage of these three bills enhances the legitimacy of the cryptocurrency market, boosts investor confidence, drives prices up, leading to a collective surge in cryptocurrencies. It also prompts changes in the competitive landscape, as compliance costs eliminate smaller issuers, potentially allowing giants to dominate the market. A global wave of regulation resonates, with countries accelerating the improvement of regulatory frameworks, leading the industry into a golden period of compliance, which is expected to attract more traditional capital into the market, facilitating the integration of cryptocurrencies into the mainstream financial system.