#GENIUSACATPASS

🚀 Crypto Week Wrap-Up: A Game-Changer for the Industry! 🇺🇸

The U.S. Congress just wrapped up its historic Crypto Week, and the crypto industry is buzzing! Here’s the scoop:

✅ GENIUS Act Passed! The House approved the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act with bipartisan support (308-122). It’s now on President Trump’s desk, set to be signed today at 2:30 PM. This landmark bill establishes a regulatory framework for stablecoins, enforcing strict reserve requirements and Bank Secrecy Act compliance. In 18 months, it’ll reshape how stablecoin issuers operate, potentially pushing them to become banks. 🚫 Foreign stablecoin issuers? They’ll need U.S. approval or equivalent regulations abroad to operate here in three years.

📜 CLARITY Act Moves Forward! The Digital Asset Market Clarity Act passed the House (294-134) with strong bipartisan backing, including 78 Democrats. It’s now headed to the Senate. This bill shifts crypto oversight from the SEC to the CFTC and exempts certain digital commodities from securities laws, a huge win for the industry. Despite some Democrats’ concerns about corruption tied to Trump’s crypto ventures, optimism is high for Senate approval.

🔒 Anti-CBDC Bill Advances! Rep. Tom Emmer’s Anti-CBDC Surveillance State Act passed the House (218-210), aiming to block the Federal Reserve from issuing a central bank digital currency. It’s now in the Senate’s hands, where a few Democratic votes could seal the deal, especially since 22% of Democrats oppose CBDCs (per Cato Institute).

🌟 What’s Next? The crypto industry sees these bills as a massive step toward integrating digital assets into the U.S. financial system. Leaders like Coinbase’s Brian Armstrong and Anchorage Digital’s Nathan McCauley are thrilled, though some wanted provisions like interest on stablecoin reserves. Globally, these laws could set a precedent, with the U.S. aiming to lead in digital assets over markets like the UAE and Hong Kong.