On July 9, the US Senate Banking Committee in Washington will discuss the Federal Audit rules for the crypto currency market; Ripple 
$2.30 CEO Brad Garlinghouse, Summer Mersenger from Blockchain Association and Jonathan Levin, Founder of Chainalysis, will participate. The session, in which the details of the Genius Law of the two -party Genius and Claryty Law will be evaluated, the title of “Wall Street to Web3: building tomorrow’s digital asset markets ve and can determine the course of arrangements expected to be voted by the end of the year.
Two -party road map with two drafts
The GENIUS Act aims to introduce net reserve standards to the sector by regulating dollar secular crypto currencies; The advanced translations of the bill show that crypto money exports can be attributed to banking surveillance. The CLARITY law aims to determine the definitions covering the rest of the market and to clarify the gray area in the separation of securities. Committee President Senator Tim Scott, Assistant President Senator Cynthia Lummis and Ruben Gallego from the House of Representatives, argues that the progression of two bills in the same period will create a “single roof approach”.
Both texts are in parallel with the “crypto currency week” interviews in the House of Representatives. Bids, such as expanding the role of stable crypto currencies and limiting state -supported digital dollar attempt, the Congress increases the agenda intensity. The legislators emphasize that the uncertainty of arrangement pushes new players out of the United States and calls for voting before the end of the year.
Leaders raise sound for a net crypto money frame
In his invitation letter, Brad Garlinghouse reiterated the message that “open rules will accelerate innovation while protecting the consumer”. In his written statement, Summer Mersenger said that the current chaos weakened the US finance and technology leadership; According to Mersinger, if uncertainty is prolonged, capital, R & D and talent will shift to other countries. The participation of former White House Ethics Advisor Richard Painter will bring politicians’ possible conflicts of interest on crypto currency investments.
Committee members; Market supervision focuses on balance between innovative block chain applications and consumer rights. The passing of the bills can create an predictable space for investors while simplifying the undergraduate, tax and reporting processes of crypto currency initiatives. However, the reconciliation of the Parliament and the Senate on the final text seems to be dependent on inter -party bargaining.
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.
