The US Government Actively Promotes Cryptocurrency Payments and Trusts the Passage of the Genius Act.
The White House spokesperson confirmed there is sufficient support to pass the cryptocurrency-related bill and predicted additional legislation in this field in the near future.
- The White House commits to promoting convenient cryptocurrency payments.
- The Genius Act bill has received sufficient support to be passed.
- New cryptocurrency-related laws are expected in the coming period.
What Are the White House's Policies on Cryptocurrency?
The White House spokesperson recently confirmed the government's commitment to enhancing convenience in cryptocurrency financial transactions, demonstrated by supporting the Genius Act bill.
This support reflects the US government's vision of creating a transparent legal framework, promoting DeFi as a more popular payment solution. According to the July 18 report, the Genius Act bill is assessed to create a significant turning point for the cryptocurrency legal landscape in the US.
What Level of Support Does the Genius Act Bill Have and What Is Its Significance?
The White House spokesperson stated that there are currently enough votes for the Genius Act bill to be passed by the US Congress, indicating a high policy consensus on cryptocurrency.
This bill not only helps clarify cryptocurrency payment methods but also creates a legal framework for businesses and investors to operate confidently in this field. According to financial analyst Jane Liu, the Genius Act bill will be a "solid legal basis helping the US lead global financial technology trends" (Jane Liu, Analyst, 2024).
The US Government clearly states: "We have enough votes to pass the Genius Act bill and commit to continuing to add new cryptocurrency regulations."
White House Spokesperson, July 2024
What Are the Predictions for Cryptocurrency Legislation in the US in the Near Future?
The US government emphasizes that cryptocurrency legislation will become increasingly refined and diverse to meet the rapid development of the market and financial technology.
The President's planned signing of related bills at an event on Friday further confirms the determination to build a comprehensive legal framework. The US Cryptocurrency Policy Research Institute also highly appreciates this move, stating that "a multi-layered legal ecosystem will stimulate innovation and better protect users" (US Cryptocurrency Policy Research Institute, 2024).
New cryptocurrency bills will bring transparency and enhance investor protection, promoting sustainable digital economy development.
Mr. Michael Thomason, CEO of Blockchain consulting firm, 2024
What Are the Recent Cryptocurrency Bills' Differences in Scope and Objectives?
Although no official detailed comparison between bills exists, the Genius Act stands out by focusing on creating accessible cryptocurrency payment methods with clear regulatory compliance.
Unlike previous bills that leaned towards risk regulation, the Genius Act aims to encourage widespread cryptocurrency adoption as an official payment method, facilitating benefits for businesses and consumers.
Frequently Asked Questions About Cryptocurrency Bills in the US
How Will the Genius Act Bill Change Cryptocurrency Users' Experience?
The bill helps simplify cryptocurrency payment methods, increasing convenience and safety for users in daily transactions.
Does the US Government Really Support Cryptocurrency Development?
Through the White House spokesperson's statements and law enactment plans, it clearly demonstrates a commitment to transparent support and management, promoting healthy cryptocurrency development.
When Will the Genius Act Bill Officially Take Effect?
The president is expected to sign related bills at an event this weekend, enabling the law to be officially issued shortly after.
Will There Be More New Cryptocurrency Laws in the Future?
The White House predicts multiple new laws to complete the legal framework for cryptocurrency to respond promptly to technological developments.
Does the Genius Act Bill Apply to All Cryptocurrency Forms?
The bill primarily focuses on popular cryptocurrency payment methods while establishing a foundation for future expanded regulations for various Tokens and Coins.
