From July 14, the U.S. Congress focuses on key legislative initiatives concerning cryptocurrencies, dubbed "Crypto Week."
What Do the New Laws Entail?
French Hill, heading the Financial Services Committee, emphasized America's eagerness to retain its pioneering stance in cryptocurrency innovation. Three main proposals — the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act — aim to shape a transparent regulatory environment protecting both consumers and investors.
Can Privacy Concerns Halt CBDC Bills?
The Anti-CBDC Surveillance State Act aims to prevent central bank-issued digital currencies, emphasizing the protection of Americans' financial privacy. Lawmakers express concerns about potential privacy breaches with centralized digital currencies.
How Close Are We to New Regulations?
Collaboration between the Financial Services and Agriculture Committees is increasing to align with the Senate in developing a legal framework. The Senate seeks to implement market-specific regulations by the end of September, aiming for a well-regulated, trustworthy U.S. cryptocurrency market.
The outcomes of these initiatives are likely to significantly shape U.S. financial market trends and user experiences.
