American bills can open trillion in assets star-news.press/wp

The law of clarity determines the rules when the original is considered safe. This would also clarify whether the assets are supervised by the Securities and Stock Exchange (SEC) or considered a commodity.

The national innovation and construction of the American Stablecoins Law (Genius Act) was presented in February. The draft law approved the Senate on June 17 and sets rules for the type of entities that might issue Stablecoins. The genius law proves that “exporters must maintain reserves that support Stablecoin on the basis of one to one” in US dollars or other liquid assets. The banking confidentiality law also extends to Stablecoin.

Finally, the CBDC Watch Law aims to prevent the US Federal Reserve from issuing a central bank of the Central Bank (CBDC).

Why the encryption week is historical for the United States

While the legislative efforts are underway at the time of writing this report, industry experts believe that the encryption week represents a historic moment in the history of the United States.

Reef Collins, CEO and CEO of Digital Asset Management Company, told Cryptonews that the United States has recently started replacing uncertainty in the space of digital assets.

“For years, creators and investors have moved in a fragmented organizational environment, and she was often concerned about arbitrary application,” Collins said. “Now, with prominent bills such as the Clarity Law that is transmitted through Congress, we are about to give the industry clear rules for the road instead of the red tape.”

Collins added that Week Crypto is not only related to encryption, but also from the United States that indicates the world is ready to lead in a financially friendly financial future.

For example, Collins believes that the three bills discussed this week will open the door for traditional and technical banks to participate in confidence in the digital assets sector.

“This would open trillion in value, and put the United States as a global center for digital assets.”

The importance of a genius verb

Delelle Dixon, CEO of the Star Development Corporation, told Cryptonews that the genius law is especially important to ensure access to the global financial system via Blockchain technology.

“This bill recognizes the development of our financial system and the important role that Stablecoins plays,” Dixon said. “It creates a federal license system for Stablecoins that will support the strength of the dollar, enhance the international coordination that puts the United States in a strong and influential table on the table, and enhances Stablecoin’s cross -border flows.”

More importantly, Dixon explained that passing the law of genius would protect consumers by ensuring that Stablecoins is really fully supported and stable.

She said: “This is very important as Stablecoins is expected to grow into a trillion dollar sector before the end of the decade.”

Will the genius and clarity pass?

Currently, the US House of Representatives voted from 215-211 to pass a procedural proposal that allows the laws of genius and clarity, along with the CBDC control state law, to move forward in the final votes.

Although it is worth noting, some industry experts are still skeptical that genius and clarity laws will pass this week.

Rebecca Liao, co -founder and executive director of the Web3 Saga infrastructure, told Cryptonews that she believed that it is unlikely to pass genius and clarity laws this week due to Congress procedures.

“I still like to see great progress, these bills are transferred through channels,” Liao said.

She added that these bills are important for the organizational certainty that the encryption industry needs.

Ensuring this, Margaret Rosenfeld, the chief legal official in Everstaki, told Cryptonews that passing any of the three bills under consideration would represent the moment of water gatherings.

She said: “It would give companies like us the legal certainty of innovation here in the United States and assume to consumers that there are rules in force to protect them.” “After years of organizational ambiguity and the manufacture of policies that depend on enforcement, the existence of clear legal frameworks would pave the way for the prevailing adoption and stronger general confidence.”

Challenges to see

Although Week Crypto clarifies encryption legislation in the United States, there are a number of challenges.

In addition to Congress procedures, Rosenfeld stated that the biggest challenge that may affect the death of these bills is related to politics.

She said: “Even with support from the two parties to obtain clearer rules, there are still deep doubts in parts of Congress that encryption projects projects are very friendly to the industry,” she said.

In addition, Rosenfeld notes that timing is a challenge. “Only a few days left in the session before the Congress broke the holiday, so delay can push the sounds in the fall.”

The future effect of the encryption week

However, regardless of what was voted during this week, Crypto Week has already built an unprecedented momentum, especially in the United States

Rosenfeld believes that this week’s events will likely lead to the US Senate, given the legislation of the next market structure.

“It is also possible that we will see more detailed discussions in setting the rules in the fall. If the Stablecoin Bill is passed, the focus will turn quickly to implementation – license license, reserve requirements, and disclosure standards.”