The prefix comes from the Greek word “kryptos“Meaning” secret “or” hidden “. And there are a lot about cryptocurrency that looks like secret knowledge. Wallets and the world.
1 and 1 What is most important to know about the three bills?
These three bills are intended to provide regulatory clarity to the cryptocurrency industry, which has long operated in a gray area, with unclear agency surveillance and protective and compliance requirements. With these three bills, the Trump administration and the congress aim to fill these regulatory gaps and propel a broader program of American innovation and competitiveness in digital assets.
The Act on Engineering, which Trump has signed today, creates the first federal regulatory framework for Stablecoins, with rules for issuers and support requirements. The Clarity Act, which is now going to the Senate, transfers the jurisdiction over the digital assets of the Securities and Exchange Commission to the Commodity Futures Trading Commission and defines and establishes rules for exchanges, brokers and concessionaires for cryptocurrencies. Finally, the CBDC anti-surveillance State Act, which is also directed to the Senate, prohibited for the Federal Reserve to issue a digital currency of the Central Bank (CBDC) without the approval of the Congress. There is still a lot of work to do to fill the remaining gaps, but these invoices are a first step. Most importantly, these regulations are only effective when associated with a coherent and equitable application
–Alisha Chhangani is deputy director at the Geoeconomic Center for the Atlantic Council.
2 What will be the impact for Americans?
The most likely result is that more companies, including banks, will go into the supply of cryptographic assets. We have already seen several major financial institutions indicate that they want to get more involved in the crypto. Like the CEO of JPMorgan Chase, Jamie Dimon, said Tuesday when he asked him questions about Stablecoins, “we are going to be a lot and learn, and (a) the player.” Now that there is finally more regulatory clarity, you can expect the traditional financial actors, sometimes called Tradfi, get more involved with these rapid development technologies. For Americans, this means that your bank could soon offer you stablescoins and perhaps even tokenized means of investing in the stock market. None of this will happen overnight, but in a year or two, the way we would banish could seem significantly different.
This can also include risks. What happened with the Silicon Valley Bank in 2022 is an edifying tale. If banks are too involved in something speculative – whether in the digital economy or not – then there is a risk that a kind of failure in a part of the market can create a more important financial crisis. These invoices aim to help ensure that the assets offered are safe, but it is clear that there is much more work to do on this front.
–Josh Lipsky is president of the International Economy of the Atlantic Council and senior director of the Geoeconomics Center of the Atlantic Council.
3 and 3 What will be the impact outside the United States?
From the point of view of politics, countries around the world must take into account the impact of the stablescoins denominated in dollars on their domestic markets, while balancing their policies on the stablecoins denominated in their own fiduciary currency (such as crypto-sounted assets by Euro or to support Yuan) and Crypto assets. While all bills are focused on the national American market, foreign courts have closely followed these developments in the congress. Reactions from abroad have largely echoed the concerns of financial stability resulting from the influx of stablescoins labeled in dollars, in particular (but not exclusively) of emerging markets. Other reactions have also included concerns about the personal businesses of the American president Donald Trump with the cryptographic industry and how it could influence his creation of policy. Jurisdictions abroad tend to believe that the United States is myopic with its digital asset policies, with little long-term impact examination on the world economy.
Increasingly, I see advanced savings and emerging markets double the measures to protect their interior financial stability. This includes the emphasis on their digital currencies from the Central Bank and their adjustments to their existing Stablecoin regulations, as well as creating news in the light of developments in the United States.
–Ananya Kumar is the deputy director of the future of money at the Geoeconomics Center.
4 How will these bills progress American leadership on digital assets in the world?
One of the bills, the CBDC anti-surveillance State act, focuses on the prohibition of the prohibition of the federal reserve retail CBDC. A retail CBDC would be used by the general public for commercial transactions and between peers, such as the purchase of a cup of coffee. On the other hand, a wholesale CBDC would be used by financial institutions to settle interbank transactions and securities.
Supporters of this bill say they are concerned about the potential damage to privacy and the control of the Government of daily transactions. At the same time, this bill would make in the United States the only country in the world to have prohibited a CBDC and a global aberrant value in the development of the CBDC. Above all, the bill could potentially also undermine the critical work of the federal reserve on the innovation of cross -border payments. The federal reserve is actively involved in the Agora project, alongside six other central banks, in order to make international payments more efficient and secure by integrating money from the Central Bank token and commercial banks. The cessation of this work may leave the United States to shape the next generation of global payment infrastructure.
All this occurs because countries are pursuing more and more alternative payment systems designed to bypass the dollar. Without American leadership in the innovation of cross -border payments, other countries – including China – could fill the void, establish technical standards, governance standards and financial networks that decrease the role of the dollar. This leadership erosion also presents a risk of national security, limiting the ability of the United States to monitor illegal finances and apply economic sanctions.
—Alisha chhangani
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While things arise – in the absence of global consensus on the role of supported stables of a dollar and cryptographic assets – I see a rocky route to come for global governance of digital assets. If there is one point to remember from the cryptocurrency regulation of the Atlantic Council Center of Geoeconomics, it is that the courts cannot go to cryptographic policies alone. The creation of a responsible and innovative ecosystem will take global cooperation.
The adoption of the Engineering Act provides the United States with a chance to bring in other countries to respond to their concerns about the stablecoins supported in dollars. In addition, the American presidency next year in the group of twenty (G20) is the perfect forum to do so. If the United States wants to advance its leadership on the world scene, it should take the momentum of the “cryptography week” and translate it into a moment of construction and cooperation of global consensus.
—Ananya Kumar
Upon reading
Image: US President Donald Trump holds the signed “engineering law”, which will develop the regulatory framework for stablecoin cryptocurrencies and widen the surveillance of industry, at the White House in Washington, DC, United States, July 18, 2025. Reuters / Annabelle Gordon
