Behind Bitcoin (BTC), which now hit a record price of around $112,000 (USD) yesterday, two historical decisions can change the present of digital assets and give momentum, allowing them to be integrated into the traditional financial system.
On the one hand, the possibility of approval of a guide for American stability (genius) and establishing national innovation is at stake. Meanwhile, it belongs to Texas Bitcoin Strategic Reserve, the second largest state of American power.
In the Senate, Genius Law prepares for the final discussion and vote. Key steps to regulating the Stablecoins marketIncludes Tether’s USDT and USDC Company of Circle. That recognition establishes a clear legal framework that fosters institutional trust.
Within that provision, the obligations of approved issuance issues, whether they are subsidiaries of safe depository institutions, and whether they are non-boundary emitters with federal or state ratings to maintain full reserves of current assets, such as US dollars and treasure liabilities. This is with the idea that each stubcoin is supported, as specified in the draft project introduced in the US Senate.
As Cryptonotics has already reported, the bill has accepted several industry actors despite its approval and criticism that the US has the authority to block transactions with USDT and other stubcoin. But it was a matter of debate, but it has been praised for prioritizing consumer protection and securing a refund in the case of a revocation in the event of a discharging party. Prohibiting civil servants from issuing stub coins during their mission To avoid conflicts of interest.
The community sees a step towards integrating digital assets, particularly in the global financial system, in the Genius Act. This is the first law of this type to overcome the complex Senate process.
Expectations are high as widespread advancements in the legislative process could potentially be approved before the fall break on Monday, May 26th. However, lawyer John Deaton warned that the denial could postpone key reforms until 2029, leaving the sector to regulatory sphere.
Either way, it outperformed its bipartisan support, 66-32, following a key procedural vote last Monday. There seems to be a clear path to the genius law. Numbers such as Senator Cynthia Ramis and Kirsten Gillibrand were their main drivers.
“Now we have all the expectations that will be approved,” said David Sachs, who works as the White House’s Cryptocurrency and Artificial Intelligence Emperor (specialist).
Senator Elizabeth Warren usually escapes her voice, warning about possible regulated lagoons, pointing to conflicts of interest, particularly in connection with the USD1 stubcoin, which is linked to President Donald Trump’s family. Although this was not a reason for disapproval, but for progress in the revision.
Warren, along with other lawmakers, presented an amendment to the Genius Bill to prevent the president and other US officials from benefiting from stablecoins that can promote approval.
Bitcoin Strategic Reserve is about to be created in Texas
At the same time, in Texas, the world’s eighth largest economy is a step away from integrating its reputation as a fortress of Pro Bitcoin. This is because the SB 21 bill, which proposes the creation of a strategic Bitcoin Reserve in the state, has already received a green light from its representatives, and only hopes that Gov. Greg Abbott’s signature will become law.
The regulations enable Texas Secretary Buy and sell and maintain Bitcoin as part of the state’s financial strategy. The re-foll of proposals at the national level, such as the “Bitcoin Act,” requires the federal government to acquire 1 million BTC within five years for the Civil Reserve.
After the laws of Arizona and Oregon open doors enter into force For Bitcoin to integrate into the state’s financial systemthe decisive approval of SB 21 is strongly supported by figures such as Senator Charles Schwartner, and will provide important support for the legitimacy of Bitcoin as a strategic asset at the state level.
According to an opinion article published in Cryptootics, this measure could cause a Phomo effect and encourage other jurisdictions to follow the Texas example.
However, the market also remembers the caution that, following previous ads, such as President Trump’s executive order, that although positive for the industry, it did not include direct federal purchases of BTC, causing a temporary fix in price.
As the clock progresses, the Bitcoin and cryptocurrency ecosystem is waiting in anticipation of the outcome of these decisions, which, in addition to implying historical regulatory changes, could affect market sentiment and therefore could affect Bitcoin prices.
“Texas moves to establish a strategic Bitcoin reserve: a new era of state finances,” published today by Gov. Greg Abbott.
Texas Genius Law and Bitcoin Strategic Reserve are two regulations They were able to integrate The impulse to integrate digital assets into the global financial system Already the US is the leader in the digital economy. However, political tensions and uncertainty in regulations remind us that roads are not exempt from obstacles.
Bitcoin will integrate new maximum historical prices and the stubcoin regulatory framework is looking for its current location, but the next few hours will determine whether this day will promote a new era of financial innovation.