Trump says Caesar Caesar, Bitcoin Reserve Assessment is the priorities

The White House “Crypto CZAR”, ” David Sachs, The encryption group created by President Donald Trump’s Executive Order, the CEO of Bitcoin’s CEO.BTC) Reserve as an early priority for management.

However, in response to questions about the American sovereign wealth box also purchasing Bitcoin, Sacks said it would be evaluated separately.

Sacks explained the authorization of the working group, which includes cooperation with the Securities and Stock Exchange Committee (SEC) to propose a federal regulatory framework for digital assets and stablecoins.

He said that the previous four years were distinguished by the uncertainty, which led to the creativity of encryption. Sacks added that the Trump administration aims to reflect this trend by establishing an organizational environment that distinguishes companies compatible with fraudulent actors.

Senator Tim Scott, France Hill, John Bouzman, and actor Galin Thompson, also made data during the press conference.

Boozman emphasized that SEC has a specialty on securities, while the Future Trading Committee (CFTC) is organizing commodities. Thompson corrected digital assets in technological development, describing it as part of the Internet 3.0 – “Value Internet”.

In addition, Scott stated that the goal is to pass Stablecoin’s legislation during the first 100 days of management, followed by the wider market structure reforms.

Enhancing the US dollar

Sacks again confirmed that Stablecoin’s legislation will be a priority, indicating its potential role in securing the position of the US dollar as a backup currency in the world.

Almost simultaneously with the press conference, Senator Bill immigrated the payment law of the year 202

The draft law defines organizational standards for the issuance and management of Stablecoins payments, ensuring that they are supported through reserves and operate in an organized legal environment. also The outline that companies must be licensed as a “permitted payment” to create Stablecoins in the United States.

Among these exporters are companies affiliated with insured deposit institutions, qualified exporters for the non -federal banking defense organized by the currency financial observer office, and exporters for qualified payment from the state organized by the state’s financial authorities.

The draft law imposes that Stablecoin exporters maintain 1: 1 reserve support using the American currency, deposits, treasury leaves, and other liquid assets. Exporters must also provide monthly general disclosure on reserve structures and undergoing independent audits.

Moreover, legislation prohibits reserve rehabilitation and requires compliance with regulations to combat money laundering under the banking confidentiality law. The draft law establishes a two -year endowment on the algorithm Stablecoins and directs the Treasury to study its risks and benefits.

It also calls for the development of Stablecoins and encourages mutual agreements with international judicial states with similar organizational frameworks. The legislation is explicitly exempt Stablecoins from its classification as securities under federal securities laws.

Stablecoin with a market property is also allowed less than $ 10 billion to choose the state level regulation. Once the threshold exceeds, it is necessary to move to federal control.

The draft law includes provisions for customer protection, such as demanding guards to separate customer assets and adhere to employment and reporting standards. If a year, the legislation will provide the organizational clarity of the Stablecoin exports, enhance the role of the US dollar in global financing, and enhance compliance and supervision in the digital asset sector.

SEC encryption work

The press conference and the draft law comes amid great organizational developments in the Supreme Education Council, which officially launched its first encryption team

The Commissioner will lead the work band Hyster Peres,, Which is widely known as the “Mom of encryption” for its audio position on organizing the industry.

PEIRCE compared SEC’s previous organizational approach to digital assets with an unconfirmed wild trip characterized by organizational ambiguity and enforceable procedures. She added that the work group aims to develop an organizational framework that balances the protection of the investor with the innovation of the industry.

Pierce stressed that dealing with SEC for encryption over the past decade was not consistent, which led to continuous litigation and uncertainty among the market participants. The business group will work via organizational agencies and with Congress to determine clear rules.

She also admitted that organizational clarity would take time and encouraged general participation in helping to form politics.

The SEC Crypto Work Squad will focus on determining the security situation of Crypto Assets, reviewing the frameworks for the distinctive symbol offers, adjusting the registration paths, and exploring the nursery solutions for investment consultants.

Other interests include encrypted accommodation, exhaustion programs, and products circulating in exchange. Finally, the business squad will also examine across the border.

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