Latest news with #CLARITY
Axios
6 days ago
- Business
- Axios
On crypto market structure, the Senate keeps it simple
The Senate has circulated a draft of its version of market structure legislation, and it is markedly different than what the House offered — largely because there is so much less there. Why it matters: These two versions need to become one, setting up a clash of regulatory philosophies and strategic priorities — the House's broad framework that goes heavy on the details, or the Senate's that seems more designed to get passed. The big picture: Since the initial coin offering frenzy of 2017, the lingering question has been: Which blockchain assets count as securities, and which don't? This is important, because securities that haven't been approved for trading on public markets have hefty limitations on who can hold them and how they can change hands. For a long time, the nation's securities regulator felt they were all securities. The crypto industry disagreed, and the courts turned out to be divided on the point. Now Congress is stepping in. Zoom in: The House and Senate bills both start by declaring that certain digital assets will always be treated as securities. But both provide a path for other coins to shed those restrictions. They use different terminology, but they both seek to make clear that if a coin mainly exists to use and keep running some blockchain protocol, then it's not, on its own, something for the SEC to deal with. Case in point: Ether and bitcoin are what keep the Ethereum and Bitcoin protocols running. They offer financial rewards that motivate a distributed array of unrelated people to keep the systems operational. Both bills require certification for a new token with the SEC, making clear — with evidence — that the projects have made something that doesn't fit under a securities rubric. Regulators can object, and then a back and forth can begin. If they don't, the asset graduates out of the agency's purview. Reality check: The House bill gets in the weeds on some things, though. For example, it has definitions for "decentralized finance messaging systems," "decentralized finance trading protocol" and "associated person of a digital commodity broker." The Senate's bill cedes many of those details to regulators, leaving them to work out needed details later when it writes specific rules. My thought bubble: It might change a lot, but it would make sense for CLARITY, the House bill, to remain the vehicle for final passage — that way the House can say it did a bill and the Senate can say it did one.
Yahoo
23-07-2025
- Business
- Yahoo
The Senate Must Finish the Job on America's Pro-Crypto Future—Emmer, Begich
President Trump ran and won on a bold promise: to make America the global capital of cryptocurrency and blockchain innovation. Now, with a Republican House, a Republican Senate, and a Republican President, we have both the mandate and the responsibility to deliver. Last week, we made historic progress. President Trump signed into law Senator Bill Hagerty's Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—a landmark bill that cements a federal framework for dollar-backed digital assets. These payment stablecoins, pegged to secure assets, now have clear rules that promote transparency, protect consumers, and boost demand for U.S. Treasuries—all while reinforcing the dollar's position as the world's most foundational transactional currency. The GENIUS Act is a major win for American leadership in digital finance. But, on its own, it's not enough. To secure the full promise of stablecoins—and of American crypto innovation more broadly—the Senate must also pass Chairman French Hill's Digital Asset Market Structure Clarity (CLARITY) Act, which just passed the House. These two bills are complementary: GENIUS establishes the rules for stablecoins; CLARITY delivers the broader market structure that distinguishes digital commodities from traditional securities and clearly defines the regulatory roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Without the CLARITY Act, the rules governing digital assets will remain fragmented, confusing and vulnerable to politicization. Under the Biden administration, that ambiguity was weaponized—resulting in regulatory overreach, stifled innovation, and an exodus of talent and capital overseas. President Trump is reversing course, embracing a vision of American-led digital innovation—through executive action, a call for bitcoin reserves, and by working with the most pro-crypto Congress in U.S. history. But without legislative clarity, that progress is at risk. FTX—the most spectacular crypto fraud in history—happened outside the U.S. precisely because early regulatory uncertainty pushed innovators offshore. The lesson is clear: without clear rules of the road, the result is chaos abroad and missed opportunity at home. The CLARITY Act provides the roadmap we need to keep the digital asset economy rooted in the U.S., with smart regulation that matches the technology's unique characteristics. It will not only protect consumers and investors—it will also position the U.S. as a global leader, using financial innovation as a diplomatic asset. Central bank surveillance There's another critical frontier the Senate must address: protecting Americans from surveillance-driven central bank digital currencies (CBDCs). While other nations embrace centralized digital currencies as tools of control—none more chillingly than the Chinese Communist Party—we must draw a firm line in defense of American freedom. That's why the House passed the Anti-CBDC Surveillance State Act, which prohibits the Federal Reserve from issuing a CBDC. It's a necessary safeguard, and we're working to ensure its passage. We cannot unleash a new era of innovation while leaving the door open for future administrations to turn that same technology against our own citizens. The Senate must send the Anti-CBDC Surveillance State Act and the CLARITY Act to President Trump's desk so that the United States doesn't just participate in the digital asset revolution, but leads it. This isn't a Republican issue or a Democratic issue. It's an American issue. Whether you're from Minnesota or Alaska, whether you're 18 or 80—when done right, this technology empowers individuals, strengthens financial sovereignty, and unlocks opportunity for all. It's the future. And now, we must finish the job. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
Coinbase, Robinhood stocks hit all-time highs as Trump set to sign key legislation
Coinbase, Robinhood stocks hit all-time highs as Trump set to sign key legislation originally appeared on TheStreet. The Coinbase (Nasdaq: COIN) stock hit an all-time high (ATH) of $444.64 within a few minutes of the market opening hours on July 18. The stock has been hitting record highs of late, thanks to the progress on key crypto bills in the U.S. Congress. The House of Representatives passed the GENIUS, CLARITY, and Anti-CBDC Acts the previous day, and President Donald Trump is expected to sign the GENIUS Act, which deals with stablecoin regulation, this afternoon. Coinbase, the largest crypto exchange in the U.S., went public in April 2021 after its launch in June stock joined the much-coveted S&P 500 list this May, cementing its status as a dominant crypto player that is ready to challenge the hegemony of the established traditional finance giants. COIN isn't the only crypto stock that is rallying ahead of the key legislation being signed into law. HOOD also hits ATH Robinhood Markets (Nasdaq: HOOD), the digital trading platform whose recent launch of tokenized stocks created much furor, also hit a new ATH of $113.44. Though companies such as OpenAI have reacted sharply to the launch, the trading platform has doubled down on its suite of offerings, saying its stock tokens are backed by a special purpose vehicle tied to its own ownership stake that allows simulated exposure without direct equity the anticipation around the GENIUS Act becoming a law today, Circle Internet Group's (NYSE: CRCL), the company behind the USDC stablecoin, stock is nowhere near its record high of $298.99 as it trades at $232.82 at press time. Strategy (Nasdaq: MSTR), the leading Bitcoin treasury company helmed by Michael Saylor, instead fell more than 3% to trade at $436.74 at press time. The total crypto market cap is nearing $4 trillion as Bitcoin trades at $117,612.61 at the time of writing, down 0.9% in 24 hours. Coinbase, Robinhood stocks hit all-time highs as Trump set to sign key legislation first appeared on TheStreet on Jul 18, 2025 This story was originally reported by TheStreet on Jul 18, 2025, where it first appeared.
The South African
15-07-2025
- Business
- The South African
US House set to vote on 'game-changing' crypto bills
US lawmakers are on the verge of passing landmark legislation that will give the much-maligned crypto world much-wanted legitimacy, riding on President Donald Trump's recent embrace of the industry. The US House of Representatives is set to vote on three pieces of legislation this week, including one on the use of stablecoins – cryptocurrencies pegged to safe assets like the dollar – that if passed would immediately go to Trump for his signature. The raft of legislation comes after years of suspicion against the crypto industry amid the belief in the Biden administration that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors. But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House. According to federal financial disclosure forms released last month, Trump pocketed more than $57 million from the crypto venture, World Liberty Financial, that he launched with his sons last year. Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission (SEC). He has also established a federal 'Strategic Bitcoin Reserve' aimed at auditing the government's bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures. And thanks to his backing, Trump could soon be signing the stablecoin bill — dubbed the GENIUS Act — that the US Senate passed last month and that sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency. Stablecoins are considered the safest and least volatile of digital currencies because their value is tied to traditional currency or secure assets such as gold. Another provision of the bill empowers banking regulators to oversee stablecoin issuers in the United States. The legislation could extend the US dollar's influence in the world of cryptocurrency, with dollar-backed stablecoins seen as financial havens from local currencies prone to big fluctuations. The US House is also considering the CLARITY Act that would establish a clearer regulatory framework for digital assets – including cryptocurrencies and other blockchain-based assets. If passed the bill would require passage in the Senate. The act would clarify and divide regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Gerald Gallagher, General Counsel at Sei Labs, a digital asset firm, said the bills could be a game changer for the industry. 'GENIUS and CLARITY provide security and certainty for investors that previously were not available, either intentionally or unintentionally,' he told AFP. 'This has been a long time coming.' The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency (CBDC) – a digital dollar issued by the US Federal Reserve. Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties. It also would require passage in the Senate before going to Trump for his signature. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news. By Garrin Lambley © Agence France-Presse
Int'l Business Times
14-07-2025
- Business
- Int'l Business Times
US House Set To Vote On Landmark Crypto Bills This Week
US lawmakers are on the verge of passing landmark legislation that will give the much-maligned crypto world much-wanted legitimacy, riding on President Donald Trump's recent embrace of the industry. The US House of Representatives is set to vote on three pieces of legislation this week, including one on the use of stablecoins -- cryptocurrencies pegged to safe assets like the dollar -- that if passed would immediately go to Trump for his signature. The raft of legislation comes after years of suspicion against the crypto industry amid the belief in the Biden administration that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors. But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House. According to federal financial disclosure forms released last month, Trump pocketed more than $57 million from the crypto venture, World Liberty Financial, that he launched with his sons last year. Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission (SEC). He has also established a federal "Strategic Bitcoin Reserve" aimed at auditing the government's bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures. And thanks to his backing, Trump could soon be signing the stablecoin bill -- dubbed the GENIUS Act -- that the US Senate passed last month and that sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency. Stablecoins are considered the safest and least volatile of digital currencies because their value is tied to traditional currency or secure assets such as gold. Another provision of the bill empowers banking regulators to oversee stablecoin issuers in the United States. The legislation could extend the US dollar's influence in the world of cryptocurrency, with dollar-backed stablecoins seen as financial havens from local currencies prone to big fluctuations. The US House is also considering the CLARITY Act that would establish a clearer regulatory framework for digital assets -- including cryptocurrencies and other blockchain-based assets. If passed the bill would require passage in the Senate. The act would clarify and divide regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Gerald Gallagher, General Counsel at Sei Labs, a digital asset firm, said the bills could be a game changer for the industry. "GENIUS and CLARITY provide security and certainty for investors that previously were not available, either intentionally or unintentionally," he told AFP. "This has been a long time coming." The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency (CBDC) - a digital dollar issued by the US Federal Reserve. Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties. It also would require passage in the Senate before going to Trump for his signature.
