The first is the stablecoin bill known as the GENIUS Act. It is aimed at regulating stablecoins, specifically their issuance and exchange. The bill sets rules for issuers, aiming to protect consumers from a digital bank run.
The bigger prize was the CLARITY Act.
This would determine whether an asset is a security and overseen by the U.S. Securities and Exchange Commission, or if it’s a commodity and overseen by the Commodity Futures Trading Commission (CFTC).
The third bill in limbo was the proposal to prevent the Federal Reserve from creating a CBDC.
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