The US Congress The “Crypto Week” began on Mondaya week in which it will define the fate of a package of laws to modify the regulatory framework with which Cryptocurrency companies operate in the North American country. From the sector They get excited about their approvalsince not only could it be a positive game change for cryptocurrency companies in the US, but also would imply a “spill effect” for the rest of the world.
“All or none”was the response of Rachel Conlanthe global marketing director of Binance to Scope When he was consulted which of the initiatives that will be voted this week, he preferred to be approved. During his passage through Buenos Airesthe most important cryptocurrency exchange executive in the world stated that the three projects “They play an important role to give clarity, but also to lay the appropriate bases for future growth.”
The Genius and Clarity Laws they focus on regulating the issuance of digital assets and establishing a New regulatory framework. Specifically, the first is specifically directed at “Stablecoins” guaranteeing consumer protection and market stability. For its part, Clarity focuses on providing clear orientation for the market in the Operatory with cryptocurrencies, digital commodities and decentralized finance.
For its part, the Anti-CBDC law Its objective is to restrict the Federal Reserve to develop, issue or use a digital currency, claiming concerns about privacy.
Bitcoin returns to rise?
In parallel, Bitcoin is in the middle of a bullish streak that led him to cross the level of US $ 123,000 For the first time this Monday, July 14, and will mark a new milestone for the most important criptodivisa on the market. This Tuesday, the price of the crypto asset was US $ 116,533, which represents a weekly increase of 7.1%.
Consulted by this means, the BUENBIT CEO, Federico Oguehe said that “the approval of these laws may be the catalyst that Finish consolidating Bitcoin as a global reservation assetespecially in a scenario where geopolitical tensions and the search for refuge continue. “
“We see this rally not as an isolated peak, but as part of a background trend: Crypt is maturing, institutionalizing, and getting closer to the traditional financial system, without losing its decentralized essence, “he added.
For his part, Jeff Mei, director of Operations of the BTSE cryptocurrency platform, attributed the recent Bitcoin rebound to sustained institutional capital with a long -term vision. As stated to CNBC, It does not rule out that the price reaches US $ 125,000 in one or two months.
The global spill
Conlan He argued that, although Binance It does not operate in the US, the North American country “still plays a fundamental role as a leader in this space and reports other countries on how they evolve.” In addition, he said a Scope that “it is also indicative that this is the number one agenda for the current administration, which demonstrates the desire, Not only of companies, but from the US administration, to follow capital markets“
Similarly, the general manager for Argentina and South Cone of the exchange, Andrés Ondarrahe argued that “this reflects the maturity of the industry and that the most important countries in the world, particularly the US, take the regulation of cryptocurrencies.”
He also said that “the industry is in a moment and with a level of maturity that allows us to collaborate much closer with traditional finances.” In addition, he said that “it is a turning point in which people see the industry more From the perspective of the benefits of infrastructure that from the perspective of the asset class“
For its part, OGUE He considered that “the approval of these laws would be a huge advance for the crypto ecosystem.” From his perspective, “That will not only attract institutional capital, but will also provide greater confidence to the end user, something key to mass adoption“
He stated that of the three discussion projects, the most relevant is the Genius lawin charge of the regulation of Stablecoins: “If the US approves a federal framework for this type of assets, the land is ordered for companies such as companies such as companies such as companies such as companies such as Circle (USDC) either Paxosand The role of stablecoins is consolidated as a base infrastructure of digital finances. For goodbit, who works with this type of assets in Latin America, It would be a huge impulse“
The Argentine opportunity within crypto finances
Conlan compared crypto development in Argentina with that of the United Arab Emirates And he considered it as a “great opportunity” so that “leadership in areas in traditional systems where they have not been considered.”
“If we look at the United Arab Emirates (EAU), 10 years ago no one would have been recognized or associated as a financial center, and now they are considered the referent in how to introduce regulations of cryptocurrencies and create a favorable environment,” he exemplified.
And he added: “I spoke with the Minister of Tourism of EAU and In the last four years they have seen a 300% increase in jobs in the cryptocurrency sector and web3. Approximately 300,000 people from the 11 million inhabitants of the region are currently working, either directly or indirectly, in the cryptocurrency industry.
Source: Ambito
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