Suche
Mein Konto
Crypto crisis: US laws fail, Bitcoin and Circle crash!
Key US Crypto Laws Fail, Bitcoin Falls. Votes on GENIUS Act & Co. announced. Current developments and market reactions.
Crypto crisis: US laws fail, Bitcoin and Circle crash!
Major political developments in the US House of Representatives have led to an immediate reaction in the crypto market. On Tuesday, a crucial vote affecting key crypto laws failed, causing Bitcoin (BTC) prices to fall 0.5%. The Bitcoin price was a total of 2.5% lower within 24 hours. Ethereum (ETH), on the other hand, experienced a short-term dip but quickly recovered and is 2.5% above the previous day's levels. The stablecoin provider Circle is also significantly affected by the uncertainty, whose value fell by 5.3%.
The vote failed due to opposition from a group of Republicans unhappy with the Senate's influence on legislation. US President Donald Trump spoke on the Truth Social platform and emphasized the importance of the GENIUS Act for crypto innovation in the US. A new vote is scheduled for Tuesday afternoon, followed by two more votes on Wednesday and Thursday, which are crucial for the American crypto industry.
Crypto week and the upcoming votes
The so-called “Crypto Week” in the US House of Representatives is intended to drive progress on three important crypto bills. This week began with a joint statement from federal banking agencies on safely providing crypto asset custody services to banks. Lawmakers are focusing on the GENIUS Act, the CLARITY Act and the Anti-CBDC Surveillance State Act.
The GENIUS Act aims to create a regulatory framework for stablecoins and received bipartisan support in the US Senate back in June. A vote on that bill is scheduled for Thursday, with Trump signaling willingness to sign it. Since Ethereum is the main platform for stablecoins, the GENIUS Act could have a significant impact on the cryptocurrency.
Summary of upcoming legislation
- GENIUS Act: Schafft einen regulatorischen Rahmen für Stablecoins, Abstimmung am Donnerstag.
- CLARITY Act: Klärt Zuständigkeitsfragen zwischen SEC und CFTC, Abstimmung am Mittwoch.
- Anti-CBDC Surveillance State Act: Verbietet der Federal Reserve die Ausgabe einer CBDC, ebenfalls Abstimmung am Mittwoch.
The outcome of these legislations could be crucial in creating a clear framework for the crypto industry and decisively shaping the role of the US in the global crypto ecosystem. Uncertainty over possible delays due to internal Republican tensions remains a key issue that both market participants and experts are closely monitoring.
The situation is dynamic, and the next few days will show whether the legislation brings the hoped-for progress for the crypto sector or whether political differences lead to further delays.
newsbit.de reports that...
beincrypto.com highlights that...