The US Congress has resumed work, advancing significant bills that may change the approach to cryptocurrency regulation.
New Cryptocurrency Legislation
Congress has returned from recess and has immediately begun to advance a series of high-profile bills, including the **GENIUS Act**, **CLARITY Act**, and **CBDC Anti-Surveillance State Act**. These initiatives aim to change regulatory oversight for digital assets, likely impacting market structures and operational norms for key cryptocurrencies and blockchain innovations.
Impact on Stablecoins
The **GENIUS Act** imposes strict backing requirements for stablecoins like USDT and USDC. This necessitates compliance with new transparency and accounting standards, potentially affecting their financial models and governance.
Future of the Cryptocurrency Market
The new laws, such as the **GENIUS** and **CLARITY Acts**, may lead to improved market dynamics by offering clearer regulatory conditions. Changes are expected to initially cause market volatility followed by more strategic stabilization.
The new legislative initiatives may significantly change the landscape of the cryptocurrency market in the US, providing more transparency and stability for participants.
