This week, when the US House of Representatives announced that it would be “crypto week”, it will discuss three bills of laws within the scope of efforts to make the country “Crypto Capital of the Planet”.
US President Donald Trump’s positive approach to the sector and the economic -friendly names under economic -friendly names have accelerated the work to organize the crypto ecosystem in the country.
The Congress took action to form a regulatory framework for digital assets that become widespread in the country and offer innovation in financial markets.
The House of Representatives, who took steps for the critical legislation for both the protection of consumers and financial stability, declared that the week that started with July 14 at the beginning of this month would be “crypto week”.
In the Crypto week at the House of Representatives, CLARITY, GENIUS and anti-CBDC laws will be discussed within the scope of efforts to “make the planet’s crypto capital”.
These bills include issues such as organizing the crypto sector and handling concerns about the Central Bank digital currencies (CBDC).
It is aimed to increase the transparency of the Sabitcoin market
In short, the so -called Genius “The Draft and Establishment of National Innovation for US stemcoins” aims to create a federal regulatory frame for Sabitcoins.
The bill also aims to increase the transparency and accountability of the Sabitcoin market.
In the proposed draft that Sabitcoins should be supported by assets such as US dollar or short -term government bonds, it is required to be under control at the state or federal level.
In the vote in the Senate last month, with the support of both Republican and Democratic Congress members, it must be accepted in the House of Representatives in order to enact the bill with 68 votes against 30.
“Clarity” in the sector is wanted to be achieved
The “Digital Asset Market Calculation Draft Law”, or in short, aims to eliminate general regulatory uncertainties for digital assets and to promote the growth of the sector in the United States.
The bill plans to bring clear rules for the regulation of digital assets. Thus, it is aimed to protect the consumer and to encourage crypto companies to operate in the USA.
Due to the rapid growth of the crypto sector, the creation of a regulatory framework is expected to support the digital asset sector and encourage innovation.
Republican congress members see this bill as a step that supports innovation, while the Democrats demand more strict arrangements.
The Central Bank opposes digital currencies
The “Anti-CBDC” bill, which aims to prevent the removal of CBDCs, receives strong support among the advocates of “financial freedom”.
The crypto industry argues that CBDCs can threaten the advantages of freedom and anonymity offered by decentralized crypto currencies such as Bitcoin.
The bill includes the prohibition of offering direct CBDC to individuals or indirectly exporting CBDCs through financial institutions.
The bill, which defines financial confidentiality as a constitutional right, emphasizes that CBDCs can be used to monitor individuals’ spending habits, political donations or personal financial decisions.
The Democrats argue that this bill can prevent digital financial innovation.
If the bill is enacted, the US may remain behind in the global CBDC development race against its competitors such as China, but financial confidentiality advocates will achieve a great victory.
Republicans see bills as an opportunity to support the crypto sector
The three drafts presented by the Republican Congress members are seen as an opportunity to support the crypto sector, to maintain financial freedom and to prevent the government’s possible excessive intervention.
Although it is partial support to the bills among the democrats, it is wondered how to reach a compromise on the occasion of the congress members who demand more strict arrangement and critically approaching the bills.
Republicans are doing the US intensive lobbying for the “crypto week” in order to fulfill the promise of “the planet’s crypto capital and the world’s Bitcoin superpower”.
