Crypto Assets monetary policy major breakthrough, the United States leads global development

Recently, the United States' cryptocurrency monetary policy has made historic progress. During Congress's "Cryptocurrency Week," several milestone bills were introduced. On July 19, the "GENIUS Act" officially became law, and this news immediately boosted market sentiment, pushing the total market capitalization of crypto assets to exceed $4 trillion for the first time, while the issuance of stablecoins also reached a new high of $261 billion.

The "GENIUS Act" sets a unified standard for stablecoins, prompting several financial giants to announce pilot programs. The Act clarifies the qualified stablecoin issuers, including federally regulated banks, OCC-licensed non-bank issuers, and state-chartered issuers (with a total market capitalization not exceeding $10 billion). The Act requires that the value of reserve assets must be equal to or greater than the total face value of issued stablecoins and lists qualified reserve instruments. Issuers are required to publish details of reserve assets and circulation monthly and undergo annual independent audits.

At the same time, the "CLARITY Act" has passed in the House of Representatives and is currently submitted for review by the Senate. The bill clarifies the regulatory division of responsibilities between the SEC and CFTC regarding digital assets, providing precise definitions for "digital assets," "digital commodities," and "mature blockchain systems." The bill allows digital assets to shift from SEC regulation to CFTC oversight once they achieve sufficient decentralization and widespread adoption.

In addition, the "Anti-CBDC Act" has been incorporated into the "National Defense Authorization Act", prohibiting the Federal Reserve from issuing a centralized digital dollar without explicit approval from Congress. This move aims to protect individual financial privacy and support the development of decentralized infrastructure.

The introduction of this series of bills has brought unprecedented regulatory certainty to the Crypto Assets industry. We are seeing many overseas teams beginning to return to the United States, with a large number of projects actively recruiting local experts. The token issuance model is also transitioning to "adapt to the American market," with more and more projects choosing to issue tokens directly through Delaware entities.

The clarification of the regulatory environment is driving the flourishing development of innovative stablecoin banks and payment companies. Whether industry leaders or new entrants, they are rapidly launching institutional-level solutions, including custody, liquidity, compliance, and privacy protection. These developments are consolidating the United States' position as the "global Crypto Assets capital," injecting strong momentum into the entire industry.