👍 Trump goes all-in on #crypto — and this could change the world
Something historic is happening right now: the President of the #UnitedStates is personally pushing two bills that could dismantle the old banking system.
These two bills — GENIUS and CLARITY — would, for the first time, grant crypto official legal status.
CLARITY:
⏺ Classifies crypto as commodities, not securities — a game-changer for the entire industry;
⏺ Securities (like stocks) are regulated by the #SEC ;
⏺ Commodities include gold, oil, and wheat — and now Bitcoin and Ethereum will be treated the same;
⏺ This means: no more endless lawsuits with the SEC, like the GRAM token case in 2020;
⏺ For the first time in US history, they acknowledge: "Crypto is legal and it’s not controlled by the state."
GENIUS:
⏺ Legalizes digital dollars — stablecoins;
⏺ Banks will be allowed to issue their own stablecoins — effectively a return to private money without government control;
⏺ Transfers will become instant and free — SWIFT, VISA, and MasterCard could be left behind;
⏺ Traditional banks will become obsolete — and they already know it;
⏺ Bank of America has announced it is ready to issue its own stablecoin;
⏺ The largest bank in the country, J.P. Morgan, has already done so — but only in a closed environment for now;
⏺ The US is positioning itself as the world leader in digital money — with clear rules and a global role.
📌 In reaction to this news, Bitcoin is rapidly climbing. If these laws pass this week, crypto will become legal and accessible to hundreds of millions of people.