The three bills are clearly outlined in the weekly report.
- GENIUS Act (Stablecoin Regulation)
This bill will establish a federal regulatory framework for payment stablecoins, allowing only qualified banks, eligible non-banks, or state-regulated issuers to issue stablecoins. It requires that stablecoins be fully backed 1:1 by highly liquid assets (such as cash or U.S. Treasury securities), undergo regular reserve audits and public disclosures, and incorporate anti-money laundering and consumer protection mechanisms. It also establishes a parallel regulatory mechanism between federal and state authorities, mandating federal oversight once the market capitalization exceeds $1 billion.
- CLARITY Act (Digital Asset Market Structure Regulation)
This bill classifies digital assets: "digital commodities" (such as tokens issued on mature blockchains) will fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC), while securities-like assets will remain under the Securities and Exchange Commission (SEC). It stipulates that digital asset exchanges and broker-dealers must register and comply with the Bank Secrecy Act, clarifying classification standards, registration requirements, exemption clauses, and disclosure obligations to enhance trading transparency and investor protection.
- Anti-CBDC Surveillance State Act (Preventing Central Bank Digital Currency Surveillance)
This bill prohibits the Federal Reserve from directly or indirectly issuing retail central bank digital currency (CBDC) to the public, forbids its use for implementing monetary policy, and prohibits designing, testing, issuing, or conducting related experiments without Congressional authorization, fundamentally preventing the potential monitoring of personal accounts and transactions by CBDCs.
This article is sponsored by #Bitget ｜ @Bitget_zh
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