#加密立法新纪元 #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 a substantial establishment of the cryptocurrency regulatory framework, ushering in a new era of global cryptocurrency legislation, profoundly impacting the direction of the industry.

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

(“Genius Act”), requires stablecoin issuers to obtain federal or state-level licensing, holding reserves of cash, bank deposits, or short-term U.S. Treasury bonds at a 1:1 ratio, enhancing fund security, incorporating digital assets into the U.S. sovereign credit system, consolidating the dollar's hegemony in the digital age, creating demand for U.S. debt, and helping to resolve the debt crisis.

"Digital Asset Market Clarity Act" (“Clarity Act”), clarifies the commodity nature of cryptocurrencies, delineates the regulatory responsibilities of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), weakens the 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, and results in a collective surge in cryptocurrencies. It also prompts changes in the competitive landscape of the industry, where compliance costs may eliminate small issuers, and giants may divide the market. A global regulatory wave resonates, with countries accelerating the improvement of regulatory frameworks, leading the industry into a golden period of compliance, expected to attract more traditional capital into the market and promote the integration of cryptocurrencies into the mainstream financial system.