Cryptocurrencies’ prices have received new records with Bitcoin crossing the brand of $ 1.19,000 and Ethereum jumping out of 17% in the perspective of the “crypto week” in the United States-from Monday. The House of Representatives of the United States is expected to take discussions on a trinity of bills which are seminal to the American formalization of the use of cryptocurrencies under President Donald Trump.
French Hill, president of the United States Financial Services Committee, said in a statement on Thursday that the week is “the” cryptography week “in the United States House of Representatives.
Bitcoin (BTC) reached a summit of $ 119,240.26 at 7:47 p.m. Sunday, and has since planted near the marking of $ 1,18,000. According to weekly data from the CoinmarketCap cryptography tracking website, the BTC amounted to $ 1.08,707.16 on July 6. The flagship cryptocurrency earned a value of almost $ 10,000 in a week, increasing more than 9%, before the week of July 14. Ethereum or ETH has also made it possible to gain a value to reduce the value of 7 days to reach a price of 3 years.
“We take historical measures to ensure that the United States remains the world leader in innovation and I look forward to the” Crypto week “in the House,” said Hill in a previous statement, adding that the House of Representatives was heading for legislation that will create a “regulatory framework for digital assets and the prohibition of consumers and investors”. confidentiality”.
The trinity of cryptographic legislation
The House of Representatives of the United States will discuss the law on clarity, anti-CBDC law and the engineering law supported by the US Senate in what is described as a seminal moment for cryptocurrency in the United States. In a series of decrees, US President Trump announced the creation of a strategic cryptography reserve and prohibited the issue of digital currency from the Central Bank (CBDC), in addition to exploring the provisions for the issue of supported stablecoins of a dollar. These three aspects of the cryptocurrency story will be treated by the three bills listed above.
The law on the clarity of the digital asset market (clarity) will limit the framework of the exchange of legal cryptography offering consumers products with the blessing of the American Commission for Securities and Exchange (SEC) and the Commodity Futures Futures Trading Commission (CFTC).
The anti-CBDC bill of the state of state surveillance seeks to death to CBDC, by calling them as a means of ensuring the privacy of citizens and preventing government spying.
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Finally, the bill on national innovation law and the establishment of national stable innovation (engineering), which was adopted by the US Senate, aims to create railing for the use of stablecoins or cryptocurrencies supported by assets.
The “crypto week” is also important in the context of a series of floors on the floors, from South Korea to Hong Kong, countries promoting digital documents supported by their respective currencies. Admittedly, the Bank of International Settlements, the intergovernmental platform for reforms and banking regulations, clearly declared that stablecoins present a risk for “financial stability and monetary sovereignty” because they “fail” as “a form of solid money”.
Push Trump’s crypto: support innovation and blurred lines
In an explanator of a page on the anti-CBDC law, Hill said: “President Trump includes the dangers presented by CBDC and has already published a decree prohibiting federal agencies from continuing one.
Admittedly, Trump’s family interests in promoting cryptography documents indexed in dollars called Stablecoins via World Liberty Financial (WLF) are well known. The WLF is supported by the sons of the American president Eric Trump and Donald Trump Jr and the son -in -law Jared Kushner. The American president also declared business income such as the Trump brand license, Memecoins and WLF. In May, Pakistan Crypto Council signed an agreement with the WLF of the Trump family to promote the stablecoins of the country.
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“We must codify this decree in law by constantly prohibiting their development, so that a future administration cannot armed this technology against the Americans,” said Hill in the Pager alone.
A key aspect of the crypto thrust was the accent on American innovation, so that the blockchain offers the United States the opportunity to take the leadership of the world by providing railing and regulations.
The Clarity Act is a bipartite bill that seeks to fill the existing regulatory gaps on the digital asset market by “establishing a clear regulatory framework” for these assets, said Hill.
It aims to “encourage innovation” and ensure a regulatory environment that prevents theft of American cryptographic markets. Clarity Act is supported by organizations representative of the banking sector based in the United States such as the American Bankers Association as well as by the Crypto Defense Groups, namely the Blockchain Association and the Crypto Council for Innovation, among others.
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Admittedly, there were allegations against President Trump for having pretended to promote personal interests while supporting the laws that promote cryptocurrency. Harvard University Professor of Harvard University Steven Levitsky described Trump’s cryptographic transactions as a moment unlike any other, saying “I have never seen such open corruption in a modern government nowhere,” reported the Guardian.
The $ Trump Memecoin was promoted by the American president when he was in office by announcing special dinners for the best buyers of the Crypto Coin. A similar same, $ Melania, was also launched for the First Lady of the United States, Melania Trump. However, overall, the Trump administration provided an unprecedented thrust to the formalization of cryptocurrency. Trump’s main donors from the cryptocurrency ecosystem contributed $ 7.5 billion to its presidential candidacy.
