President Trump ran and won a bold promise: to make America the global capital Cryptocurrency and Blockchain Innovation. Now, with a Republican House, a Republican Senate and a Republican President, we have both the mandate and the responsibility to deliver.
Last week we made historical progress. President Trump signed the Law Senator Bill Hagerty’s guidance and the establishment of the National Innovation for US StableCecoins (Genius) Act-One Landmark Bill, cementing a federal framework for dollar-supported digital assets. These Payment StableCoins, which are linked to ensuring assets, now have clear rules that promote transparency, protect consumers and increase the demand for US Treasury – all of strengthening dollars as the world’s most basic transaction currency.
Genius Act is a big victory for American leadership in digital funding. But on your own, that’s not enough.
To ensure the full promise of stableecoin – and of American crypto -innovation more broadly – the Senate must also adopt President French Hills ACT Market structure for digital active and clarity) that just passed parliament.
These two bills are complementary: genius sets the rules of stableecoins; Clarity delivers the wider market structure that separates digital ingredients from traditional securities and clearly defines regulatory roles for Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC).
Without the law of clarity, the rules of digital assets remain fragmented, confusing and vulnerable to politicization. Under the Biden administration, this ambiguity was weapon – resulting in regulatory overreaction, suffocating innovation and an emigration of talent and capital abroad.
President Trump turns course, embraces a vision of US-led digital innovation-through action, an invitation to Bitcoin reserves, and by working with the most pro-crrypto congress in the US history.
But without legislative clarity, these progress is in danger. FTX – the most spectacular crypto fraud in history – was jumped outside the United States precisely because early legislative uncertainty pushed innovators offshore. The lesson is clear: Without clear rules for the road, the result is chaos abroad and miss the opportunity at home.
The Law of the Clarity provides the roadmap we need to keep the digital active economy rooted in the US with smart regulation that matches the unique features of technology. Not only will it protect consumers and investors – it will also place the United States as a global leader using financial innovation as a diplomatic asset.
Central bank monitoring
There is another critical boundary that the Senate must address: Protection of Americans against surveillance -driven central bank digital currencies (CBDCs).
While other nations embrace centralized digital currencies as control tools – no one more cool than the Chinese Communist Party – we need to draw a fixed line for defense of American freedom. Therefore, Parliament adopted Anti-CBDC Surveillance State Act, which prohibits the Federal Reserve to issue a CBDC. It is a necessary protection and we work to ensure its passage.
We cannot detach a new era of innovation while leaving the door open to future administrations to turn the same technology against our own citizens.
The Senate will send the Anti-CBDC Surveillance State Act and Clarity Act to President Trump’s desk, so that the United States not only participates in the digital asset revolution but leads it.
This is not a Republican question or a democratic question. It’s an American problem. Whether you are from Minnesota or Alaska, whether you are 18 or 80 – when you are done right, this technology strengthens individuals, strengthens financial sovereignty and locks the opportunity for everyone.
That’s the future. And now we have to finish the job.
