The recently signed bill by Trump, referred to as the 'Big Beautiful Bill', may provide a fresh impetus to the growing crypto market in the US. The main focus is on tax cuts, deregulation, and border control.
What is Trump’s Big Beautiful Bill?
The bill focuses on three key policy positions of Trump: tax cuts for companies, reduced regulations, and enhanced border control. It also includes two crypto-friendly acts, the Genius Act and the Clarity Act, which received bipartisan support. The Genius Act sets clear rules for stablecoin circulation, while the Clarity Act aims to resolve legal issues surrounding cryptocurrencies.
Potential Impact on the Crypto Market
The bill is expected to significantly impact the investment climate for cryptocurrencies, establishing clearer operating conditions for digital assets, which could boost investor confidence. According to White House advisor Bo Hines, the new law will foster innovation in the crypto sector in the US.
Will the Bill Spark a New Crypto Movement in the US?
Crypto-oriented policies were a significant part of Trump's 2024 presidential campaign. However, for the new regulations to succeed, agencies like the SEC and FBI will need to be on board. Their historically cautious stance towards digital currencies indicates that changes might take time.
Trump's bill signifies a major step towards the legalization and development of the crypto industry in the US. However, its success will depend on the agreement of various regulators.
