This week might prove to be a major crypto market catalyst. The Fed's FOMC meeting as well as crypto legislative progress might crash or rally Bitcoin ($BTC) and the greater crypto markets.
PBN Research
Future of Crypto Could Fall in These 4 Bills
https://cointelegraph.com/news/crypto-bills-could-change-us-landscape-explained
Since 2022, there have been at least 50 digital asset bills reportedly introduced to Congress, aiming to govern everything from stablecoins to the jurisdictions of United States regulators.
The bill would give the Commodity Futures Trading Commission (CFTC) power over digital commodities and clarity on the Securities and Exchange Commission’s (SEC) jurisdiction.
Digital Asset Market Structure Bill (DAMS)
Introduced on June 1, DAMS is another bill aiming to define the crypto-related roles of the SEC and CFTC and set a framework for the regulators to make determinations on if certain cryptocurrencies are securities or commodities.
Japan Reaffirms Web3 plans
Kishida highlighted Web3’s potential to drive innovation across industries and highlighted the event’s role in bringing industry players to Japan to drive collaboration:
“I hope that the Web3 industry will regain its attention and vitality, and that various new projects will be born.”
EOS Foundation CEO Yves La Rose watched on from the crowd during Kishida’s address.