Since the arrival of Donald Trump as the president of the United States, the country drastically changed its approach with cryptocurrencies. For example, this sector has just experienced a historical moment in the United States with the adoption of the brilliant law by the Senate. This is a bill of which aims to create a clear regulatory framework for stablecoins. The progress that Donald Trump said, called on the House of Representatives to send him the law “as quickly as possible”. A message that will please users and companies that cause stablecoins like Circle or Coinbase.
- The United States experienced a historical moment with the adoption of the brilliant law by the Senate and created a regulatory framework for stablecoins.
- The adoption of the brilliant law caused shock to the markets, dramatically strengthened the actions of Coinbase and the Circle.
Genius Act: Regulation of Stablecoins in the USA
The Genius ActOr Leading and creating national innovations for American stablecoinswas designed for Fill the legal vacuum in the Stablecoins industry in the United States.
Until now, these assets have developed in the gray area without clear or supervision. The bill now stipulates that The Federal Reserve (Fed) oversees Stablecoin issuers. This means requirements such as the fact that they have reserves in dollars or equivalent liquid assets that guarantee the parity of their chips with the dollar.
In addition to him It also stores monthly audits And prohibits the use of reservations for purposes other than obtaining chips or safe investments such as US Treasury. So many decisions that reflect the drama of the FTX and whose aim is to prevent this from happening again.
Reactions on markets: Coinbase and Circle use it
No wonder the adoption of a brilliant law had a senate and An immediate impact on the financial markets.
The events of several companies in the crypto sector have jumped. We can mention in particular Coinbase Action (Corner) and Circle (CRCL).
On the one hand, Corner baseCogère and share half of the income generated USDC Stablecoin USDC with a circle, saw its course to rise more than 16% in one dayreaching almost $ 300 per share.
On RingUSDC transmitter, noted and Increase by nearly 34%His action closes $ 199.59. The situation is even more interesting for the company that this month has done IPO. This is a storm starting with a circle on traditional markets.
It is not possible to see the adoption of the brilliant law behind this stock market. In fact, it finally offers a regulatory clarity of long -awaited institutional investors and players in this industry. It remains to be seen as the House of Representatives decides, but one thing is sure: “Summer Stablecoin” is actually running.
(Tagstotranslate) Coinbase (T) United States (US) (T) Stablecoins