New Laws: How Crypto is Changing the Game

Three new bills are shaking things up, and one is already law. This could change how we use digital money, for good or bad.

The GENIUS Act

• Lets companies make stablecoins: Digital money tied to the dollar.
• Like store credits, but online: Big banks and companies are interested.
• Risks involved: Stablecoins don't have the same protections as regular money.
• Potential for another financial crisis: Some worry the new law doesn't protect consumers enough.
• Potential benefits: Could make things cheaper and easier, like paying less in fees when you shop.

The CLARITY Act

• Sorts crypto into different categories: Helps businesses know what rules to follow.
• Potential for certain businesses to avoid stricter rules: Some people think it's a way for certain businesses to avoid stricter rules.

The Anti-CBDC Surveillance State Act

• Stops the government from making its own digital money (CBDC): Some countries are using CBDCs, but U.S. banks don't want it.
• Potential problems: They say it could cause problems.

What Does This All Mean?

• Crypto is becoming more mainstream: But there are still big risks.
• Important to understand these changes: Think critically about how they might affect you.