What Trump's Crypto Week means for the cryptoma market

Clarity Act: Order in the crypto jungle

With the Clarity Act, the congress wants to ensure clear rules on the US cryptoma market. In the future, digital assets should clearly be classified either as a securities (then the SEC) or as digital goods (the CFTC) should be classified. Companies with Cryptocurrencies Work, should manage customer funds separately, disclose conflicts of interest and register with the authorities. The draft law is intended to create legal security for developers and platforms. He is also intended to prevent innovative projects from moving abroad.

Anti-CBDC Act: No digital dollar from the state

The anti-CBDC Surveillance State Act is directed against the introduction of a state digital currency, i.e. a so-called Central Bank Digital Currency (CBDC). With the law, the Federal Reserve should not publish CBDC directly or via third parties to citizens. Use as a monetary policy instrument would also be prohibited. The Republicans argue that a state -controlled, programmable currency could undermine the financial privacy and abuse as a surveillance instrument. Trump had already prohibited CBDC development by decree, and the law should now permanently fix this course.

Genius Act: Regains Stablecoins

The Genius Act is intended to create the legal framework for stable coins. These are digital currencies that are coupled to the US dollar. According to the design, these coins must be fully covered with secure assets such as US state bonds or cash. In the future, providers should be legally obliged to disclose their reserves transparently and to secure creditor rights in the event of bankruptcy. Payments with stable coins should become faster and cheaper, especially in international business. At the same time, the concept should strengthen the dollar that has recently been weakened because it could create new demand for US state bonds worldwide.