The US Congress has passed a package of legislation on cryptocurrencies, which aims to strengthen America’s technological leadership in the financial sector, promote the role of the dollar at the global level, and mitigate the consequences of the country’s debt crisis.
However, experts in the field warn that the new laws could jeopardize the stability of the financial system, create risks for the banking sector, and undermine the concept of cryptocurrencies as an anonymous and borderless financial instrument.
The White House described the legislative package as a “historic act” that, according to an official statement, “will help the United States lead the global digital currency revolution, strengthen national security, and strengthen the status of the dollar as the global reserve currency.”
President Donald Trump hosted leading representatives from the cryptocurrency market at the White House on Friday as part of a ceremonial signing of the laws. In his speech, he thanked them for their perseverance, efforts, and support for his election campaign.
“Here’s what I’m saying to you, the crypto community: For years, you’ve been mocked, ignored, and not taken seriously,” Trump said. “But this signing is a reward for your hard work, your innovative spirit, and your commitment to your principles.”
The cryptocurrency market has seen a significant surge in recent days. In particular, Bitcoin has set a new all-time high, surpassing $123,000.
