The cryptocurrency market is experiencing a transformative phase at the moment. The market is now attracting major attention, now that the domain is standing at the precipice of a novel change, the one that helps the sector gain regulatory infrastructure.

While the market has largely been independent for the majority of its time, the US administration is now trying to deliver a particular alignment to the existing crypto ordeals by introducing CLARITY, GENIUS, and the Anti-CBDC Act. Here’s what the three crypto acts mean for the future of cryptocurrency for the years to come.

Also Read: Historic Crypto Bill Moves Forward Backed by 66 Senators in Shift

Three Acts, One Goal: To Let Cryptocurrency Prosper

Different Altcoins on Table
Source: Pexels

The US administration under Donald Trump has backed the cryptocurrency domain officially. Trump has delivered serious protection to the rising cryptocurrency sector, adding how he wants the US to take the lead in governing the digital asset domain on a global platform. This development has given birth to a new infrastructural alignment that will play an instrumental role in defining the role of cryptocurrency in the current global financial regime.

The US Senate is currently busy debating whether the three crypto acts, namely GENIUS, CLARITY, and the anti-CBDC acts, should make their way into the world. These acts serve different crypto purposes and will play an important role in redefining the role of cryptocurrency as a legitimate financial tool of the future.

In essence, the GENIUS act in essence backs the stablecoin domain. This act helps in streamlining the role of stablecoins in the current financial structure and regime.

“The GENIUS Act (Guiding Entrepreneurship through Nationwide Innovation in U.S. Stablecoins). It requires. Full 1:1 asset backing. Regular audits. Federal and/or state licensing. ✅ If passed, this will legitimize stablecoins like $RLUSD, $USDC, and $USDT and pave the way for tokenized dollars to enter banking, payroll, and remittances.”

CLARITY Act, on the other hand, intends to deliver a unified market structure to the domain. The act will streamline a framework for digital assets, helping to define the roles that the US SEC and other institutions may possess for the domain’s prosperous future.

“The Clarity Act. This is the big one and arguably the most important legislation Ripple has ever faced. It defines what makes a crypto asset a security vs. a commodity and outlines clear roles for the SEC vs. CFTC vs. Treasury jurisdictions.”

The Anti-CBDC Surveillance State Act: What It Means

Lastly, the third act, known as the Anti-CBDC Act, as the name suggests, intends to restrict the curation of cross-border digital currency, or CBDC. The act will restrict entities such as the Federal Reserve or the US central banks from launching CBDCs in the future.

“The Anti-CBDC Surveillance State Act. This bill aims to block the Federal Reserve from issuing a direct retail CBDC, citing privacy and civil liberties concerns. This bill preserves space for private blockchain protocols to provide payment and settlement infrastructure.

If passed, these bills can deliver a credible boost to the cryptocurrency domain, delivering the sector a much-needed legal identity structure and format. This will help in inspiring other nations to seek inspiration from the US’s legal format, triggering a chain reaction of sorts that may help increase the influx of users interacting with the cryptocurrency domain.

Also Read: Bitcoin Reserve & Stablecoins: David Sacks Unveils Groundbreaking Crypto Bill

  • Cryptocurrency Market
  • cryptocurrency regulations
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