The US House of Representatives took a historic step in the cryptocurrency space. Three bills, the “Clarity Act,” the “GENIUS Act,” and the “Anti-CBDC Surveillance State Act,” were passed yesterday and presented for President Donald Trump's signature. According to Treasury Counselor Joe Lavorgna, these laws will further solidify America's global innovation leadership. Lavorgna, answering questions from Cheryl Cassone on Fox Business, stated that the new regulations represent a turning point not only for crypto assets but also for the broader American economy. “These laws not only clarify digital assets but also strengthen the US dollar's reserve currency status,” Lavorgna said. “Demand for US Treasury bonds will increase thanks to stablecoins.” Of the three laws, the most controversial was the “Anti-CBDC Surveillance State Act,” which aims to address surveillance concerns surrounding state-backed digital currencies (CBDCs). Lavorgna said the law is critical to protecting individual financial freedoms. While refusing to comment on the proposed merger of the SEC and CFTC, Lavorgna stated that the priority is to establish a holistic, integrated, and investment-friendly regulatory framework. Related News: Strong Rally Continues in Ethereum: Analyst Shares His Target Price Level -“It No Longer Seems Unrealistic” Lavorgna stated that the Trump administration's second term, like the first, continues to employ policies that encourage entrepreneurship, focus on tax cuts, and reduce bureaucratic hurdles. He said, “We want an economic model based on capital access and productivity, not phantom regulations. This new legislative package will make the US the global center for attracting capital and developing technology.” The tension between the Fed and the White House also came up during the program. Lavorgna argued that Trump's calls for a rate cut against Fed Chair Jerome Powell were based on strong economic data, saying, “The data shows that monetary policy is tighter than it needs to be. Treasury yields are below the policy rate. Markets are expecting a cut.” Citing the US Treasury's $27 billion budget surplus in June and the S&P 500 index reaching record levels, Lavorgna said, “All these developments show that the Trump administration's economic policies are working. Crypto laws are a link in this chain of success.” *This is not investment advice. Continue Reading: Advisor to the US Treasury Secretary Joe Lavorgna Makes Important Statements About the Future of Cryptocurrencies
