US is Planning THIS For Crypto! All Regulations Explained!
Published: 2024-09-05
Status:
Available
|
Analyzed
Published: 2024-09-05
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
A proposed bill suggests the US Treasury would accumulate up to 1 million Bitcoin over a 5-year period.
"under this program the treasury would accumulate up to 1 million BTC over 5 years"
Pending
A proposed bill aims to prevent the US government from selling Bitcoin for 20 years, except to pay off the national debt.
"the bill would also prohibit the government from selling any BTC for a period of 20 years unless it's sold to pay off the national debt"
Pending
The Bitcoin Act of 2024 is currently the only concrete proposal in Washington for the US government to purchase Bitcoin.
"lum's Bill is the only concrete proposal in Washington to have the US government buy Bitcoin"
Pending
Tether (USDT) is unlikely to be compliant with proposed legislation due to its offshore status and an extraterritorial clause prohibiting US entities from transacting with it.
"the bill seems to be showing tether the exit as it would not be compliant under the current circumstances thanks to an extr territorial clause in the bill us entities would be prohibited from holding or transacting in usdt as tether is headquartered in the British Virgin Islands"
Pending
Tether's redemption policies (minimum $100k and right to refuse) would also make it non-compliant with proposed stablecoin legislation.
"aside from tether's offshore status it also only redeems usdt amounts above $100,000 and reserves the right to refuse Redemption at any time and for any reason this also makes tether non-compliant"
Pending
Tether's partial backing by riskier assets would disqualify it under the proposed bill's reserve requirements.
"the Bill's reserve requirements would also disqualify tether as usdt is partially backed by riskier assets"
Pending
US crypto laws are inevitable.
"Congress Can't Ignore crypto forever and neither can they stamp it out this means it's only a matter of time before crypto laws make it onto the books in the US"
Pending
A Republican Senate majority in November could significantly improve the chances of the Bitcoin Act passing.
"The Senate is only narrowly controlled by the Democratic party at the moment and it could well flip Republican in November if that happens lumus predicts that the pro crypto Senator Tim Scott of South Carolina could become the chair of the Senate Banking Committee on which she also currently sits and under these conditions the Bitcoin act might really have a shot at becoming law"
Pending
No significant crypto legislation is expected to pass in the US before 2025, unless a 'Christmas tree maneuver' occurs.
"unless the likes of lumus gillibrand and McKenry can execute a Christmas tree maneuver of some kind it's quite unlikely that we'll see any crypto legislation passed until 2025"
Pending
A Republican sweep of the House, Senate, and White House in the next election could reduce the influence of crypto skeptics in Congress, potentially leading to easier passage of pro-crypto legislation.
"next year however it's possible that the house senate and the White House will be controlled by Republican an now this is no guarantee that any laws beneficial to crypto will actually be passed but it would likely diminish the power of crypto Skeptics in Congress if this happens"
Pending
The next four years are likely to see an increase in crypto legislation and a decrease in SEC enforcement actions, assuming Kamala Harris is not openly hostile to crypto.
"unless Harris turns out to be openly hostile to crypto we do suspect that the next next four years will see more in the way of legislation and fewer SEC enforcement actions"
Pending
It is inevitable that some form of crypto legislation will be passed in the next US Congress.
"it seems inevitable that one of these bills will be passed in the next Congress"
Pending
Proposed stablecoin legislation would mandate issuers to hold 1:1 reserves in cash or liquid equivalents like short-term US Treasury bills.
"issuers of US dollar stable coins would be required to hold onetoone reserves in cash or simly liquid equivalents like short-term us treasury bills"
Pending
Proposed stablecoin regulations would require monthly reserve attestations, AML provisions, and compliance with international sanctions.
"they would also be required to file monthly attestations of their reserves Implement anti-money laundering provisions and comply with International sanctions imposed by the US government and its allies"
Pending
Proposed legislation will ban algorithmic stablecoins entirely, following the TerraUSD collapse.
"the bill also prohibits algorithmic stable coins entirely after the disastrous deeg and collapse of terra's algorithmic us stablecoin in 2022"
Pending
Under a proposed bill, state-regulated non-bank institutions could issue stablecoins up to a $10 billion market cap.
"the bill permits State regulated non-deposit trust institutions to issue stable coins up to A10 billion market cap"
Pending
Non-bank stablecoin issuers exceeding a $10 billion market cap would need to obtain a federal depository institution charter.
"for non-banks to issue stable coins in excess of10 billion market cap they would have to obtain a depository institution Charter from the federal office of the controller of the currency"
Pending
Circle may need to obtain additional licenses to comply with proposed stablecoin regulations, as it currently lacks the necessary corporate structures.
"the bill might also put circle's feet to the fire currently Circle lacks the corporate structures needed to comply so to continue operating it would have to seek further licensing"
Pending
Under proposed legislation, stablecoin failures would be managed by the FDIC, similar to bank failures.
"if an issuer becomes insolvent it would be handled by the Federal Deposit Insurance Corporation or FDIC essentially this means that stable coin failures would be handled similarly to bank failures"
Pending
The proposed stablecoin bill could lead to Circle having a monopoly in the US if it obtains the necessary licenses, which is not favorable for other stablecoin issuers.
"this is not exactly great news for any stable coin issuers unless of course Circle can obtain the necessary licenses to continue operating in which case lumus and Gill brand are basically handing it a monopoly in the US"
Pending
Bringing stablecoins under the purview of banks and federal regulators will likely streamline the process of asset freezes for government requests.
"regulation that brings stable coins closer under the purview of of Banks and federal Regulators is likely to only streamline this process further"
Pending
Proposed stablecoin legislation by Lummis-Gillibrand and McHenry would classify stablecoins as non-securities.
"the lumus Gill brand Bill and representative mchenry's parallel bill in the house would classify stable coins as non-securities"
Pending
Legislation unlikely to pass in the current US Congress if it doesn't grant the government more control over crypto.
"anything that does not empower the government with more control over crypto is unlikely to become law in the current Congress"
Pending
Senate Majority Leader Chuck Schumer expressed confidence in passing some form of crypto legislation in the Senate this year.
"Chuck Schumer told a zoom call full of crypto industry bigwigs that he was confident about quote getting something passed out at the Senate this year saying quote I believe we can make that happen"
Pending
Barring hostility from Kamala Harris towards crypto, the next four years are expected to bring more legislation and fewer SEC enforcement actions.
"unless Harris turns out to be openly hostile to crypto we do suspect that the next next four years will see more in the way of legislation and fewer SEC enforcement actions"
Pending
The SEC's unpopularity has created a sense of urgency for crypto regulation across both political parties in the US.
"the SEC has become highly unpopular and this has created a real sense of urgency around regulation on both sides of the aisle"
Pending