United States is a Major catalyst in Crypto Activities both in Adoption and Day-to-day Usage. US Crypto retail is a Major important player in the health chain of Cryptocurrency Ecosystem, hindering US citizens and investors from the crypto space as seen in JOE BIDEN regime put a significant setbackand strain on the cryptocurrency Market.
Ever since the Pro-crypto US President DONALD TRUMP got voted in for his Second term of office, He has been Pro-crypto and Even Owning a significant Amount if ETHEREUM.
NOV 6th Marked the Victory of the 45th US President and Ever since then, he has done nothing but pushed for the Adoption and Encouragement of cryptocurrency.
TOP BILLS PASSED BY THE US GOVERNMENT CONCERNING CRYPTOCURRENCY.
- GENIUS ACT ( Guiding and Establishing National Innovation for U.S Stablecoins ACT) – This Bill Requires Stablecoins to be Backed 1-to-1 with the US Dollar or similarly liquid assets lke Treasury bills. it also requires Monthly public disclosure of Reserve compositions for transparency and consumer protection. The GENIUS ACT provides Clarity and institutional credibility to Stablecoins which gives a projected potential expansion of stablecoins market into Trillions over the next several years to come.
- CLARITY Act – This Defines whether Specific digital assets quality as securities under SEC jurisdiction, providing clearer regulatory boundaries and reducing uncertainty for token issuers. it helps clarify the grouping and classification of TOKENs and aiding businesses and investors in understanding regulatory Obligations
- ANTI-CBDC Act (Prohibition on Federal Reserve-issued Retail CBDCs) – This Bill Bans the Federal reserve from Issueing a U.S Central Bank Digital currency (CBDC)thereby Addressing Privacy and Surveillance concerns. it is Crucial for those wary of government-issued digital currencies; bolsters support for decentralised alternatives.
- FIT21 Act (Financial Innovation and technology for the 21st Century Act) – This Bill is Purposed to create a Two-way regulatory framework which are CTFC (this oversees digital assets that are “ functional and decentralised” i.e., commodities) and SEC ( this oversees others like securities). the FIT21 Act aims to assign regulatory responsibility based on an asset’s characteristics and pushing for clarity across regulators
BottomLine…..🏊🏽♂️
The Cryptocurrency landscape has seen a lot of Both Greenery and famine regarding sentiments and acceptance both in the United states and Across the Globe. while not being totally accepted by the world yet, gradually consideration by the United states is bound to be followed by other countries. By 2030, The world is projected to have progressed in Acceptance of cryptocurrency and blockchain in an advancement rate of 65% compared to the present day.
Cryptocurrency is evolving from being seen as illegal to a technology integratable into future and existing financial and technological framework connecting billions of people from across the world.
