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Recently, the U.S. government took an important step in the regulation of Crypto Assets. On July 19, the "GENIUS Act" was officially signed into effect, providing a legal framework for the development of stablecoin. This initiative is seen as a significant driving force for the development of the U.S. Crypto Assets industry.
The core content of the bill includes:
1. Establish clear regulatory rules and abandon the practice of regulating through litigation over the past four years.
2. Innovate traditional payment systems using blockchain technology.
3. Strengthen the dominance of the dollar through globally available digital dollars.
The bill stipulates that each digital dollar in a cryptocurrency wallet will correspond to an equivalent dollar reserve in a US bank account. This regulation could create enormous demand for US Treasury bonds, with a potential scale reaching trillions of dollars.
It is worth noting that the House of Representatives has passed the CLARITY Act (also known as the Market Structure Act), which is currently awaiting consideration by the Senate.
These legislative measures reflect that the US government is actively promoting the standardized development of Crypto Assets, aiming to establish a clearer and safer Crypto Assets ecosystem. At the same time, this also demonstrates the strategic intention of the US to maintain a leading position in the global digital finance sector.
With the advancement of these bills, the development environment for the U.S. Crypto Assets industry is expected to improve further, which may attract more innovation and investment into the field. However, the specific implementation effects remain to be seen, and industry professionals and investors will closely monitor the impacts of these new policies.