“Historical Winter” for encryption! The genius law is heading to Trump for the final approval star-news.press/wp

Main meals

The United States has paved the way to the Genius Law, submitting to Trump for the final approval of the law. SEC Atkins President described it as a “innovation motivation” step with clear rules.

The encryption industry recorded a historic victory this week after the Stablecoin Bill was cleared by the US House of Representatives and was appointed to President Donald Trump’s final approval of the law.

Legislators voice 308-122 to adopt Genius.

More than 100 Democrats have joined Republicans to vote on the draft law, which is scheduled to give legitimacy to Stablecoins and integrate them with the broader financial system.

But it was not a picnic in the garden for the Republicans.

A successful “encryption week”

Earlier this month, Republicans set July 15 week.Encryption“To enhance the main encryption bills, including the broader market structure bill, the law of clarity.

But the efforts faced two hiccups, “Anti -Corporation’s Corruption Week” Opposition From Democrats, led by Representative Maxine Waters, California.

Waters and some of her colleagues wanted to include the provision of presidential ethics in the bills. They criticized the “corrupt” deals for the Trump family in the sector.

Another procedural delay occurred after some members of the House of Representatives expressed his concerns about the inclusion of CBDC (the central bank’s digital currency) in the future.

In short, this bills were prevented from considering discussion in the House of Representatives and the floor vote, but Trump to intervene After that, put a pace for Thursday.

Even the leader of the minority, Hakim Jeffrez and senior Democrats, such as former Speaker Nancy Pelosi, joined the Republicans to pass the bill.

Market reactions

This will be the first legislation ever to become a law in the United States, and the industry welcomed it.

The founder of Ripple, Brad Garlinghyus, described it as a “major financial bill” since the 2008 financial crisis Addand

“This moment is a historical one, and on the one hand, I look forward to everything that will come as a result of this transformative legislation.”

For his part, Ripple Legal President, Stewart Aldouti, He said The approval of the Stablecoin Bill “enhances innovation and protects consumers”, adding that this is what the Americans demand.

Coinbase founder, Brian Armstrong, too Be praised The update is “a big day for encryption in the capital”, but he pointed out that “the job was not accomplished” until the clarity law also reached the Trump office.

Paul Atkins, SEC chair, clip and He saidand

“This is an important step to motivate innovation by providing the encryption industry with clear rules of the road.”