We can see different effects on cryptocurrency digital asset management in different countries of the world. In this case, legal changes are usually the most visible. For example, a law has been passed in the United States called the Guiding and Establishing National Innovation for U.S. Stablecoins Act or GENIUS Act.
The American government has generally added different levels to this law. One of these is the reserve US dollar and assets that are basically stable, that is, they must be supported by the government at a proportional rate. This means that these cryptocurrency coins will play an important role in the US economy. The proportional rate is 1:1.
We generally know that the American economy has an important impact on cryptocurrency. As a result of the passage of this IT, we usually see that there are many big investors who will invest here with a lot of hope. Because they now understand that they will be very stable. Of course, they will invest in these places because their risk will be much lower.
It will not be very good and risky for them. Also, the American state government has agreed on this. It will be seen that cryptocurrency will play a role in various banks and payment systems in America. Because everyone has understood that it will be stable. This will increase the confidence of the common people a lot.
Another big economy in the crypto market is the European Union. We know that various countries in the European Union have already considered cryptocurrency as a mainstream currency. They are also already trying to implement MiCAR. By doing this, they are trying to make transaction services etc. more effective in the markets of various countries in the European Union and trying to centralize them.
They have brought it to centralize the regulatory framework. Various conditions have been imposed in this act. Various benefits such as customer protection, management of their assets, how to store them, etc. have been imposed by the European Union.
We generally know that if any stable coin is to be launched in different countries of the European Union, then it must be launched in accordance with the conditions. In this case, they must get approval from the authorities. They have no other choice. This will make the digital payment system in European countries more advanced and more modern. This will create trust among people.
On the other hand, it may have some bad effects on the market. Also, Hong Kong is trying to introduce this trend in the current world. They have also started taking various steps in their country. They are also taking various steps to make their market long-term.
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