Crypto Week DC was one for the history books, but it was interesting to see how little Bitcoin was discussed.
Let's unpack what happened:
1/ The GENIUS Act, already passed by the Senate in June, introduces a federal framework for “payment stablecoins” (like USDC) and lays out clear requirements like 1:1 reserve backing, audits, and AML compliance. That kind of infrastructure gives banks, fintech, and regulators a clearer understanding of their roles.
Main con is this will mean centralized entities are the main issues of stable coins and also there’s a remaining question of if and when FDIC insurance will come in to play
2/ The Digital Asset Market Clarity Act creates a clear set of regulatory guidance for crypto, splitting oversight duties between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Big question is, should more all coins be considered commodities and not have the pressure of the SEC? At the end of the day, what do investors that invest in specular assets deserve?
3/ The Anti-CBDC Surveillance State Act addressed something that many of us in the space have been concerned about for years - the risk of government surveillance through a retail CBDC. Preventing the Fed from launching a direct-to-consumer digital dollar protects individual financial privacy.
2/ The Digital Asset Market Clarity Act creates a clear set of regulatory guidance for crypto, splitting oversight duties between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Big question is, should more altcoins be considered commodities and not have the pressure of the SEC? At the end of the day, what do investors that invest in speculative assets deserve?
3/ The Anti-CBDC Surveillance State Act addressed something that many of us in the space have been concerned about for years - the risk of government surveillance through a retail CBDC. This prevents the Fed from launching a direct-to-consumer digital dollar and protects individual financial privacy.
7.88K
17
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.