Over the past week, presidential candidates in the United States, the world's leading power, have presented their proposals for the emerging cryptocurrency industry, which include everything from creating a clear regulatory framework to collaborating with companies in the sector and establishing a massive Bitcoin reserve. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
The promise of revolutionizing cryptocurrency policy in the US
📍Two US presidential candidates, Donald Trump and Robert F. Kennedy Jr., have presented their ambitious plans to transform the country into a world leader in cryptocurrencies. Both Trump and Kennedy were present at the Bitcoin Conference 2024, the largest Bitcoin conference in the world, which took place in Nashville, Tennessee, last week.
During his presentation, Trump has vowed to remove current SEC Chairman Gary Gensler, and encourage the country's investment in Bitcoin. Its strategic plan to accelerate the development of the crypto industry and ensure the United States' global leadership in the sector is appoint competent regulators who understand or even “love” the innovation of cryptocurrencies.
Trump also claimed that he would make the United States the “crypto capital” of the world and the Bitcoin superpower. He promised Create a presidential advisory council focused on the cryptocurrency industry and reduce enforcement in this sector, which has so far been excessive, according to several legislators and experts.
Trump’s speech was met with enthusiasm by the audience, with Zachary Bradford, CEO of Cleanspark, describing it as “a historic moment.” Trump also highlighted his commitment to promoting Bitcoin mining in the US and protecting personal custody of cryptocurrencies by preventing the issuance of a central bank digital currency (CBDC).
For his part, Robert F. Kennedy Jr. proposed a massive investment in the market's leading cryptocurrency. During his speech, he promised to create a Bitcoin reserve, investing up to $615.000 billion in the cryptocurrency. With this, he said he would equal the country's gold reserves.
Kennedy sees Bitcoin as a crucial tool to combat inflation and promote political decentralization. His plan includes issuing Bitcoin-linked Treasury bonds and aggressive, recurring Bitcoin purchases during his presidential term. So far, despite his low electoral odds, Kennedy remains committed to his vision of a decentralized, censorship-free economy.
On the side of Kamal Harris, the vice president of the country, who has the support of Joe Biden as his replacement in the presidential race, has called for meetings with the main cryptocurrency companies in the country. According to reported According to Fortune, Harris' intention is to begin building connections with crypto companies to shape a new regulatory framework that suits the needs of the industry and its participants.
In short, all of these proposals and government plans could mark a turning point in the regulation and adoption of cryptocurrencies in the United States, positioning the country as a global leader in this emerging financial and technological sector.
Senator Cynthia Lummis proposes creating a Bitcoin strategic reserve
📍US Senator Cynthia Lummis has officially introduced a legislative proposal that seeks to establish a strategic national Bitcoin reserve for the United States. The proposal, which aligns with the vision of Trump and Kennedy Jr., was first presented during his speech at the Bitcoin 2024 conference in Nashville, Tennessee.
At the event, Lummis announced her Strategic plan to strengthen the US dollar by purchasing one million bitcoins and creating a reserve of the cryptocurrency.
Lummis’ proposal includes the creation of a decentralized network of secure vaults to store Bitcoin, to be operated by the U.S. Treasury Department, with high standards of physical and cyber security. The goal is to acquire approximately 5% of the total BTC supply, equivalent to one million bitcoins, to reflect the size and scope of the country’s gold reserves.
This announcement comes at a time when presidential candidates Donald Trump and Robert F. Kennedy Jr. have also expressed their intentions to create a Bitcoin strategic reserve.
Luxembourg focuses on boosting financial innovation
📍Luxembourg, one of the most advanced jurisdictions in the issuance of securities through DLT technology, has proposed to further relax its laws on this innovation. The country's Ministry of Finance has introduced a new bill that introduces the figure of a control agent for the issuance of digital securities, which could offer greater flexibility, security and transparency to the market.
According to bill introduced, the controlling agent will not have a custodial role, but will instead ensure that the DLT maintains a proper record of the issued securities. This measure adds to previous laws supporting native digital securities on DLT and allowing their use as collateral, supporting Europe’s DLT Pilot Regime.
With these legal amendments, Luxembourg aims to create a welcoming legal framework for digital securities, strengthening its position as a leader in financial innovation.
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