In three sentences, I briefly summarize what these three bills do GENIUS → "Stablecoins are legitimate, a 1:1 deposit is required" CLARITY → "Who is in charge of the tokens, the roadmap is clear" Anti-CBDC → "Digital Dollar, Don't Think About It Yet" See the 🧵 specific details

GENIUS Act The first federal stablecoin law in the United States: • Only institutions with federal/state licenses can issue "payment-type" stablecoins; • Must hold cash, short-term government bonds, and other highly liquid assets on a 1:1 basis, and disclose reserves monthly; • Prohibits arbitrary use of reserves, requiring redemption and risk management mechanisms.

CLARITY Act Categorizing the entire crypto market: • Dividing tokens into "digital commodities" (regulated by CFTC) and "investor-protected digital assets" (regulated by SEC) • Establishing a "decentralized pathway" where projects can transition from securities to commodities based on their level of decentralization • Allowing exchanges, custodians, and brokers to register in a one-stop manner, with rules for customer fund segregation and market manipulation prevention.

Anti-CBDC Surveillance State Act Banning the National Digital Dollar Concept: • Prohibiting the Federal Reserve from issuing CBDC directly or indirectly to individuals • Prohibiting the use of CBDC as a monetary policy tool or for pilot studies (with very few exceptions) • Essentially codifying Trump's earlier executive order into law to prevent future governments from "reviving" the digital dollar.