Crypto currency Investors expect the regulatory pressure to disappear after Trump’s election. One of the most important steps to be taken for this is the creation of clear rules. Thus, crypto money companies in the country can act freely and responsible.
Stablecoin law is coming
Senator Bill Hagerty is in the Senate stablecoin introduced the bill. The Republican Senator named the bill Genius. It is called the law of GENIUS (National Innovation in US Stablecoins) and aims to provide clear arrangements for stablecoins. Eleanor Terrett from FOX explained the details about the bill as follows.
“The important points of the bill, which is based on a draft discussion of a discussion in October.
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The GENIUS law provides clear regulations for US stablecoins.
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It defines stabilcoins as digital assets fixed to USD.
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Determines licensing and reserve requirements for exporters.
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It applies Fed’s rules for more than $ 10 billion for exporters; State rules for less than $ 10 billion.
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Supports financial inclusion, efficient transactions and the superiority of the dollar. ”
The Senate employees said they expected the bill to progress rapidly in the committees in the Congress. At today’s press conference Crypto and AI Tsar David Sacks He’s gonna talk about this bill.
As a new last -minute development, the White House said that Trump would meet with China within hours.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
