President Donald Trump's recent intervention has accelerated the passage of three significant cryptocurrency bills in the House, significantly impacting the market.
Trump's Influence on the Bills
House Republicans, led by Speaker Mike Johnson and Majority Leader Steve Scalise, are set to advance the **GENIUS Act**, **CLARITY Act**, and **Anti-CBDC Act**. Trump's assurance has reportedly shifted some hard-line GOP members to support these measures.
Market Reaction to the News
Bitcoin (BTC) prices increased by 2%, while Ethereum (ETH) rose by 7% following the announcement of the bills. Crypto-related stocks, such as Circle International Group, surged by 14%, reflecting market optimism.
Future of Cryptocurrency Regulation
The financial implications are significant, particularly for **stablecoins** and related industries. The **GENIUS Act** addresses stablecoin regulation, affecting companies like Circle and Coinbase. The anticipated passage of these bills could provide a framework for **U.S.-compliant** DeFi protocols, enhancing investor confidence.
The passage of these proposed bills could have both short-term and long-term effects on the cryptocurrency market, creating clearer regulatory frameworks and improving the integration of cryptocurrencies into the financial system.
