The global cryptocurrency market is gearing up for the week of July 14, which the US Congress has officially designated as Crypto Week. Chairman French Hill and Chairman Glenn Thompson are in charge of this critical time, which will determine the law governing digital assets such as Bitcoin, Ethereum, and Solana.
Why is Crypto Week important right now?
For the first time, the House will debate three major bills at the same time: the GENIUS Act, the CLARITY Act, and the CBDC Anti-Surveillance State Act. They intend to work together to govern stablecoins, establish markets, and limit the Federal Reserve’s ability to develop a central bank digital currency. This push for new legislation demonstrates that the United States is under increasing pressure to catch up with other nations’ cryptocurrency restrictions, such as the EU’s MiCA regulation, which is currently in place (source).
Price Predictions and Market Analysis
According to some analysts, clearer laws might encourage institutional engagement and boost the crypto sector’s reputation. Bernstein believes that the GENIUS bill will make stablecoins more popular as financial tools, with a market value of $4 trillion over the next ten years. Bitcoin, Ethereum, and Solana, which are at the forefront of the decentralized finance and smart contract ecosystems, may be the first to benefit.
However, traders should continue to exercise caution. People frequently buy cryptocurrency before an announcement and then sell it once it occurs. This is a classic example of “buying the rumor, selling the news.” Investors may be able to stay ahead of shifts in public opinion by constantly monitoring the official House Financial Services X feed.
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