DEFAULT PAYMENT SYSTEM WORLDWIDE

It is kind of interesting from the macro perspective, if they lose the house and keep the Senate. There will be no more spending for the next two years which is good for the equity market. On the other hand, it is different for crypto because you find in all of these bills bipartisan support which is a serious matter to create considered. The only reason the is no crypto policy is that everyone is focused on today but when they are back from a holiday, they are still supporting crypto.

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There is a bill in the US that has the chance to be passed and it is the Stablecoin transparency act. Of course, this has nothing to do we Bitcoin but it comes down to the tune of regulation and I think it is interesting because is that they are trying to solve the issue that happened in the crashes of stablecoins that were built around the algorithm. About 62 billion was lost, and this made the regulator upset. The stablecoin transparency act is very simple, this is the reason why it is likely to get passed.

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It is been supported by both parties and the reason that is the case is that it makes effectively the US dollar a default payment system worldwide. If have USDT, USDC, or any other stablecoin that is back the dollar, the requirement to get it regulated is easy. They will have to back with a dollar or treasury bill and the treasury bill has a duration of 12 months. If they can go through all those tough processes, they will issue their license. If institutions see that stablecoin has been regulated, they will have more interest in it and that is when Bitcoin will rally.

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There is a risk in investing in bitcoin, Ethereum, and all cryptocurrencies but the is also a risk of not investing in them. It is good you have crypto in your portfolio because you don't know when the market will rally. If the stablecoin act becomes a law, there is a potential that all cryptocurrencies will be regulated.