Crypto money laws that return to the snake story are finally moving. Biden management in the collapse of 2022 ftx rapidly crypto currency He kept saying that regulations should be created. For months, they were looking for ways to prevent the crypto currency law prepared by the Republicans. Easy to say, the expected law for almost 3 years is receiving approval at the end of the law.
US Crypto Monetary Law
GENIUS included the stablecoin arrangement prepared in the US Senate, as we have shared its details many times before. There is also an ongoing law in the House of Representatives. Today, the law of directing and establishing national innovation was voted for GENIUS and resulted in favorable with 68 votes. Tim Scott, President of the Senate Banking Committee, said that this law is an important victory for both innovation and US interests.
“Let me say clearly, this did not happen by chance. This happened thanks to our leadership. We reminded those who said that Washington could not take action.”
New York Senator Chuck Schumer, Minnesota Senator Amy Klobuchar and Massachusetts Senator Elizabeth Warren, of course, gave the law no vote as expected. However, democratic senators in Arizona and many other states supported the bill.
Genius
This law Stablecoins It makes it necessary to support the US dollar or liquid assets entirely. It is very important for the prevention of Ust -like disasters or to prevent unrequited stablecoin printing.
Moreover Genius annual inspection for exporters with a market value of over $ 50 billion will be compulsory. Tether who fits this recognition is only Tether and he is outside the United States. It does not make sense to be outside the USA and will be controlled regularly. This crypto currency is great for investors because since the market has been exiled, it has come to hear the USDT Fud every three months. It’s coming.
The process of crypto currency law
The process continues and will be the final vote. Trump had previously mentioned that the crypto currency law on his desk before August. On Monday, the two party discussions will shorten the final vote by shortening the discussions.
In the House of Representatives Stable There is an abbreviation Stablecoin law and in May, he passed the committee with 32-17 votes. Since they have not yet been voted for parliamentary, they have to progress together with GenIus on the same subject and the two laws must turn into a single bill with the commission of the reconciliation.
It is also promising for the House of Representatives that the democrats have given the support to ensure progress in the Senate. If this determination and the support of the two parties (to a large extent), the law may be finalized until August and go to Trump.
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.
