The United States is finally ready to manage presidential coin issuance.
But after reading the terms, I laughed.
The Americans are also running a limited-time legislative activity:
The expiration date of this ban just happens to be the day Trump leaves office.
The Republican Party in the Senate just released a new version of the CLARITY Act.
It is a full 616 pages.
The most eye-catching provision is:
Presidents, lawmakers, and other public officials and their spouses cannot issue or sponsor digital assets during their term.
But they can continue to hold, trade, and invest.
Law enforcement powers are mainly handed over to the Department of Justice.
Even more exciting, this set of restrictions will automatically expire at noon on January 20, 2029.
That's right.
It coincides exactly with the end of Trump's current term.
Republican Senator Lummis explained:
This is not a standard imposed on Trump by Congress but rather a self-imposed constraint by Trump.
The Democrats flipped the table upon hearing this.
Warren believes that old projects, authorization agreements, and family-related entities may still circumvent the restrictions, and with the Department of Justice enforcing it along with the automatic expiration, there are many loopholes left.
Simply put:
The Republicans say this is Trump voluntarily putting on handcuffs.
The Democrats say these handcuffs are not only plastic, but the key is also in Trump's own pocket.
But behind this debate, what is truly important is a political deal.
The Democrats want to prevent the president and officials from using their positions to issue coins for profit.
The Republicans and the crypto industry want the CLARITY Act to pass quickly, clarifying the jurisdictional boundaries between the SEC and CFTC while protecting non-custodial developers.
The White House is unwilling to accept a rule that permanently restricts the president's coin issuance.
So everyone came up with a limited-time version:
During Trump's term, he will temporarily put away the coin issuance button in exchange for regulatory certainty for the industry.
By 2029, the lock will pop open automatically.
This bill is not like a marriage certificate; it resembles a three-year lease.
But we cannot pop the champagne just yet.
It is only a revised text, not a law that has already taken effect; whether the Democrats are willing to foot the bill remains the biggest variable.
What is truly worth watching next is not how beautifully the terms are written.
But whether this political IOU can gather enough votes.
However, Trump has never played by the rules, and he might surprise the market.
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