The US Congress has approved three significant bills related to cryptocurrency regulation, highlighting increasing political attention in this area.
Congress Passes Cryptocurrency Bills
The US Congress passed three key legislative bills concerning cryptocurrencies following debates among Republicans regarding central bank digital currencies. The laws, including the Digital Asset Market Clarity (CLARITY) Act, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, and the Anti-CBDC Surveillance State Act, were approved with varying results.
Support for these initiatives from both parties indicates a growing bipartisan movement towards crypto regulation, despite disputes over the Anti-CBDC legislation.
Trump's Initiatives on Cryptocurrencies and Retirement Plans
President Donald Trump is preparing to sign the GENIUS Act and issue an executive order allowing 401(k) retirement plans to invest in alternative assets, including cryptocurrencies. This step could significantly alter investment options for Americans saving for retirement. The order is expected to be signed this week and could lead to increased institutional involvement in digital assets.
Eric Tung Nominated for Judgeship
Eric Tung, a corporate lawyer known for his ties to the crypto industry, has been nominated by Trump for a judgeship on the Ninth Circuit Court of Appeals. Tung has previously represented several significant players in the crypto sector, and his nomination has sparked considerable discussion. His potential appointment is expected to impact the legal landscape surrounding cryptocurrencies in western states.
The passage of cryptocurrency bills in the US and President Trump's initiatives highlight the growing importance of regulation and the integration of digital assets into the country's financial system.