#加密货币立法 The US cryptocurrency legislation has suddenly accelerated! The three major banks have teamed up to discuss, and the loopholes in the old bill have been exposed.
The US cryptocurrency market is about to welcome significant regulations! On December 12, heavy news came that Tim Scott, chairman of the Senate Banking Committee, announced substantial progress in cryptocurrency legislation, which directly set the crypto community ablaze.
It is reported that Scott has just met with the CEOs of the three major banks: Bank of America, Citigroup, and Wells Fargo, to finalize this milestone cryptocurrency legislation, aiming to set rules for the entire digital asset industry, and will also empower the SEC and CFTC with regulatory authority. Interestingly, the three bank CEOs are also scheduled to meet with Democratic and Republican lawmakers twice this week, and the atmosphere of the meetings has been very amicable. However, the banking industry association has criticized this summer's GENIUS bill for its numerous loopholes, not only for insufficient restrictions on stablecoin interest but also for allowing exchanges to exploit loopholes, which could even turn stablecoins into investment tools.
On one hand, the new bill is advancing rapidly, while on the other hand, the pitfalls of the old bill have yet to be addressed. How should the US cryptocurrency regulation move forward? Share your thoughts in the comments on whether you think this new bill can resolve the industry's regulatory challenges.
