President Trump ran and won a bold promise: to make America the world capital of 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 has signed the right of senator Bill Hagety and establishes national innovation for the American stable law (engineering) – a historic bill that cement a federal framework for digital assets supported in dollars. These payment stables, set to secure assets, now have clear rules that promote transparency, protect consumers and stimulate the demand for US treasury bills, while strengthening the dollar position as the most fundamental transactional currency in the world.
The Genius Act is a major victory for American leadership in digital finance. But, alone, it is not enough.
To guarantee the full promise of stablecoins – and the innovation of American cryptography more broadly – the Senate must also adopt the law on the structure of the digital asset market of President French Hill, the law on clarity (clarity), which has just passed the chamber.
These two bills are complementary: Genius establishes the rules of stablescoins; Clarity offers the wider market structure that distinguishes digital products from traditional titles and clearly defines the regulatory roles of the Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC).
Without the Clarity Act, the rules governing digital assets will remain fragmented, confusing and vulnerable to politicization. As part of the Biden administration, this ambiguity was armed – resulting from regulatory overtaking, stifled innovation and an exodus of talent and capital abroad.
President Trump reverses the course, adopting a vision of digital innovation led by the United States-through executive action, a call to Bitcoin reserves and working with the most pro-Crypto congress in American history.
But without legislative clarity, this progress is at risk. The FTX – The most spectacular cryptographic fraud in history – has been ransacked outside the United States precisely because early regulatory uncertainty has pushed innovators offshore. The lesson is clear: without clear rules of the road, the result is chaos abroad and the opportunity missed at home.
The Clarity Act provides the roadmap we need to keep the economy of digital assets rooted in the United States, with intelligent regulations that correspond to the unique characteristics of technology. It will not only protect consumers and investors – it will also position the United States as a world leader, using financial innovation as a diplomatic asset.
Central Bank surveillance
There is another critical border that the Senate must approach: the protection of the Americans against the digital currencies of the central bank focused on surveillance (CBDC).
While other nations adopt centralized digital currencies such as control tools – nothing colder than the Chinese Communist Party – we have to draw a firm line to defend American freedom. This is why the Chamber adopted the law on the state of anti-CBDC surveillance, which prohibits the federal reserve from publishing a CBDC. It is a necessary backup, and we work to ensure its passage.
We cannot release a new era of innovation while leaving the door open to future administrations to turn this same technology against our own citizens.
The Senate must send the law on the state of anti-CBDC surveillance and the law on clarity to the office of President Trump so that the United States not only participated in the revolution of digital assets, but that leads it.
It is not a republican question or a democratic question. This is an American problem. Whether you are Minnesota or Alaska, whether you are 18 or 80 years old – when it is well done, this technology allows individuals, strengthens financial sovereignty and unlocks opportunities for all.
It’s the future. And now we have to finish the work.
