Bill introduced in Congress requiring lenders to consider crypto holdings when applying for mortgage.
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@bitcbot
Trump is strongly advocating for cryptocurrency, which could change the world.
Right now, something historic is happening: the U.S. president is pushing two bills that could bury the old banking system. The two bills, GENIUS and CLARITY grant cryptocurrency official status for the first time.
CLARITY:
- Classifies cryptocurrency as commodities, not securities—this is a lifeline for the entire industry.
- Securities are stocks controlled by the Securities and Exchange Commission (SEC).
- Commodities include gold, oil, and wheat; now Bitcoin and Ethereum are included.
- This means no more legal disputes with the SEC, like in 2020 with Durov's token (GRAM).
- For the first time, the U.S. acknowledges: "Cryptocurrency is legal and not controlled by the state."
GENIUS:
- Legalizes digital dollars—stablecoins.
- Banks will be able to issue their own stablecoins, returning to private money without state involvement.
- Transfers will become instant and fee-free—SWIFT, VISA, and MasterCard will be a thing of the past.
- Traditional banks will become obsolete—and they are already aware of this.
- Bank of America has announced its readiness to issue its own stablecoin.
- The largest bank, J.P. Morgan, has already done this—but currently only in closed access.
- The U.S. is becoming the leading player in digital money, with clear rules and a global role.
Against this backdrop, Bitcoin is rapidly rising. If the bills are passed this week, cryptocurrency will become legal and accessible to hundreds of millions of people.
@bitcbot
Right now, something historic is happening: the U.S. president is pushing two bills that could bury the old banking system. The two bills, GENIUS and CLARITY grant cryptocurrency official status for the first time.
CLARITY:
- Classifies cryptocurrency as commodities, not securities—this is a lifeline for the entire industry.
- Securities are stocks controlled by the Securities and Exchange Commission (SEC).
- Commodities include gold, oil, and wheat; now Bitcoin and Ethereum are included.
- This means no more legal disputes with the SEC, like in 2020 with Durov's token (GRAM).
- For the first time, the U.S. acknowledges: "Cryptocurrency is legal and not controlled by the state."
GENIUS:
- Legalizes digital dollars—stablecoins.
- Banks will be able to issue their own stablecoins, returning to private money without state involvement.
- Transfers will become instant and fee-free—SWIFT, VISA, and MasterCard will be a thing of the past.
- Traditional banks will become obsolete—and they are already aware of this.
- Bank of America has announced its readiness to issue its own stablecoin.
- The largest bank, J.P. Morgan, has already done this—but currently only in closed access.
- The U.S. is becoming the leading player in digital money, with clear rules and a global role.
Against this backdrop, Bitcoin is rapidly rising. If the bills are passed this week, cryptocurrency will become legal and accessible to hundreds of millions of people.
@bitcbot
Forwarded from Washington Insider
BREAKING: U.S. House passes all three major Bitcoin & crypto bills:
• Clarity Act
• Genius Act
• Anti-CBDC Act
Regulatory clarity is here.
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• Clarity Act
• Genius Act
• Anti-CBDC Act
Regulatory clarity is here.
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President Trump to open the $9 trillion US retirement market to crypto investments, FT reports.
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SEC considers innovation exemption from regulations to boost tokenization, Chairman Paul Atkins says.
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Barstool Founder Dave Portnoy admits he "sold XRP two weeks ago."
Today, $XRP is up 18% and reached an all-time high of $3.66
@bitcbot
Today, $XRP is up 18% and reached an all-time high of $3.66
@bitcbot
SEC Chair Paul Atkins says passing the Genius Act is an "important step forward" for crypto.
@bitcbot
@bitcbot
President Trump's Director of Digital Assets says passing the crypto Genius Act means the US is "securing dollar dominance and unlocking innovation."
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@bitcbot
President Trump says crypto is "only going further" under his administration.
"You're gonna do really well."
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"You're gonna do really well."
@bitcbot
Forwarded from Washington Insider
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