Upcoming Bills Promise Major Shifts in Cryptocurrency Landscape

Key Points

1. The GENIUS Act, which has passed the Senate, aims to integrate stablecoins pegged 1:1 to the US dollar and is up for a House vote on July 14.

2. The CLARITY Act and Anti-CBDC Surveillance State Act are also in focus, with the latter aiming to halt the Federal Reserve's CBDC initiatives.

3. Bitcoin briefly surged past $110,000, nearing its historic high, with investors anticipating a potential rise to $120,000 if the bills are approved.

4. Former CFTC Chairman Massad noted the CLARITY Act's language is open to interpretation, but Republican support is evident.

5. The Anti-CBDC Surveillance State Act does not restrict Americans from using foreign CBDCs, maintaining symbolic importance within the Republican party.