The report released by Bybit in collaboration with Block Scholes examines potential regulatory changes regarding digital assets in the US, including the GENIUS Act.
Impact of GENIUS Act on the Dollar
According to analysts, if passed, the GENIUS Act could play a key role in reinforcing the dollar's position as a global currency. This underscores the US push for improving the regulatory framework for digital assets.
Debt Issues and BTC
The report also mentions a new initiative called the BITCOIN Act, which proposes using BTC as part of the US Treasury's strategic reserves. This could lead to rising BTC prices and enhance the official recognition of digital assets.
Global Cryptocurrency Regulation
The report notes that many countries around the world are actively working on establishing regulatory norms for cryptocurrencies. This signifies that no regulator wishes to be left behind in the crypto space.
Thus, the Bybit and Block Scholes analysis confirms that new legislation could influence the international financial order by improving regulation and the acceptance of digital assets in the US.
