In a major move for the crypto industry, Trump signed the GENIUS Act into law on July 18, after the House passed three major crypto-related bills. The GENIUS Act introduces a regulatory framework for stablecoins and aims to bring more clarity to how digital assets are handled in the U.S.
Learn more about it below!
Cardano (ADA) has been showing signs of bullish momentum, currently trading around $0.89 (21 July, 2:00 PM). What’s interesting? Its current setup looks similar to past bull runs.
On the monthly chart, it’s broken above a key moving average, something that has only happened three times in the past, each followed by major price increases. If it pushes past the $1.20-$1.25 range, it could hint at a bigger trend shift ahead.
The U.S. House of Representatives just wrapped up what President Trump called “Crypto Week” by passing three major crypto bills on Thursday: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act.
Out of the three, only the GENIUS Act has made it through both the House and Senate. Trump signed it into law on Friday. It’s focused on setting rules for stablecoins, making sure they’re backed properly and regulated clearly.
But the CLARITY Act might have an even bigger impact. It aims to clear up who oversees what in the crypto world by splitting responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC).
The House has passed it, and now it’s up to the Senate. If they move quickly and vote before their August 1 break, we could see it become law as early as September.
The third bill, the Anti-CBDC Act, blocks the Federal Reserve from launching a central bank digital currency, or CBDC. The crypto industry pushed for this, citing concerns around privacy, surveillance, and possibly avoiding competition with a government-issued digital currency.
All in all, it’s been a big week for crypto legislation in the U.S., and things could move fast from here.
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This week, crypto investors should keep an eye on these major events that could influence market sentiment.
That’s it for now! We’ll be back with more updates to keep you ahead of the curve.
