New Landscape of U.S. Encryption Regulation: Three Major Bills Indicate Direction for Industry Development

Recently, the United States has made significant progress in cryptocurrency policy. The introduction of three key bills has pointed the way for the future development of the industry, marking the official entry of the United States into a new era of regulation for crypto assets.

The "GENIUS Act" establishes a unified standard for the issuance of stablecoins. The act clarifies the scope of qualified issuers, specifies the types and proportions of reserve assets, and requires regular disclosure and auditing. This will encourage traditional financial institutions to enter the stablecoin market, promote industry consolidation, and strengthen the dollar's position in the global payment system.

The "CLARITY Act" passed by the House of Representatives clarifies the regulatory boundaries of the SEC and CFTC over digital assets. The bill provides clear definitions for key concepts such as "digital assets," "digital commodities," and "mature blockchain systems," and establishes a path for transitioning from SEC oversight to CFTC oversight. This offers industry innovators a predictable direction for development and helps projects seek a balance between regulatory compliance and technological optimization.

The "Anti-CBDC Act" prohibits the Federal Reserve from issuing a centralized digital dollar without Congressional approval. This legislation tends to support stablecoins based on decentralized ledgers, rather than state-controlled ledgers, reflecting a protection of personal financial privacy.

The introduction of these three bills marks the gradual improvement of the regulatory framework for cryptocurrency in the United States. A clear regulatory environment is attracting talent and projects back, promoting the vigorous development of innovative financial services. With the establishment of the legal framework, the United States is rapidly consolidating its position as a global center for encryption.