Particle.news
Download on the App Store
12 ARTICLES
·
last mo.

House Launches ‘Crypto Week’ to Vote on Stablecoin Rules, Market Clarity and CBDC Ban

Bitcoin’s rally underscores investor optimism ahead of a House vote on three bills set to establish U. S. crypto regulation.

Image
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021.
Image
Image

Overview

  • From July 14 to 18, the U.S. House will hold “Crypto Week” to decide on the GENIUS Act for stablecoins, the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act.
  • The GENIUS Act would require stablecoins to be backed one-to-one with liquid assets and impose monthly reserve disclosures under federal oversight.
  • The Digital Asset Market Clarity Act seeks to define when digital tokens are securities or commodities, clarifying SEC and CFTC jurisdiction.
  • The Anti-CBDC Surveillance State Act would bar the Federal Reserve from issuing a retail central bank digital currency to protect consumer privacy.
  • Bitcoin has surged above $118,000 on investor optimism while Coinbase’s full-page Washington Post ad urges lawmakers to enact clear, sensible crypto rules as Democrats debate ethics and protections.