The US's policies and actions on cryptocurrencies in the second half of the year may be affected by many factors, including political elections, economic conditions, international dynamics, and the positions of domestic regulators. The following is a summary and forecast of the US's possible cryptocurrency-related policies and actions in the second half of the year:
1. Regulatory policies are further clarified
Legislative advancement: As the cryptocurrency market continues to develop and mature, the U.S. Congress may accelerate the relevant legislative work to clarify the regulatory framework for cryptocurrencies. This may include the formulation or revision of laws to define the legal status of cryptocurrencies, regulatory responsibilities, investor protection, and other aspects.
Regulatory coordination: Financial regulatory agencies such as the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) may strengthen coordination and cooperation to jointly formulate and implement cryptocurrency regulatory policies. This will help avoid regulatory overlap and conflicts and improve regulatory efficiency.
2. The impact of presidential elections on policy
Candidates’ stance: The attitudes and policy stances of presidential candidates such as Trump and Biden towards cryptocurrencies will affect the policy direction in the second half of the year. If Trump is elected and fulfills his campaign promises, he may adopt a more proactive cryptocurrency policy; while the Biden administration may continue to strengthen regulation and promote legislation.
Policy stability during elections: During elections, the government may maintain relative policy stability to avoid market volatility and uncertainty caused by policy changes.
3. Strengthening regulation of the cryptocurrency market
Anti-money laundering and counter-terrorist financing: The United States may strengthen supervision of market participants such as cryptocurrency exchanges and wallet providers to ensure that they comply with laws and regulations such as anti-money laundering and counter-terrorist financing. This may include strengthening requirements for customer identity verification, transaction monitoring and reporting.
Combating Illegal Activities: The government is likely to continue to combat illegal activities conducted using cryptocurrencies, such as ransomware attacks, darknet transactions, etc. This may require increased cooperation and coordination with international law enforcement agencies.
4. Research and experimentation on digital central bank currency (CBDC)
In-depth research: The Federal Reserve and other relevant institutions may continue to conduct in-depth research on the feasibility and application scenarios of digital central bank currencies to assess their potential impact and value in the United States.
Experimental advancement: The government may promote or support some pilot projects of digital central bank currency to explore its effects and problems in practical applications.
5. International cooperation and coordination
Strengthen cooperation with international partners: The United States may strengthen exchanges and cooperation with other countries on cryptocurrency regulation and cooperation to jointly address the challenges and risks brought about by cross-border financial activities.
Participate in the formulation of international standards and rules: The United States may actively participate in the formulation of standards and rules by international organizations and multilateral institutions in areas such as cryptocurrency regulation, anti-money laundering, and anti-terrorist financing.
6. Market volatility and investor protection
Pay attention to market dynamics: The government is likely to closely monitor the dynamics and changes in the cryptocurrency market and promptly assess its impact on financial stability, economic security, and other aspects.
Strengthen investor education: In order to improve investors’ risk awareness and self-protection capabilities, the government may strengthen investor education and provide risk warnings and suggestions on cryptocurrency investments.
It should be noted that the above forecasts and summaries are for reference only. Specific policies and actions still need to be judged based on the actual decisions of the US government and market conditions.
