Three major events in the past two days:
ETH ETF approved, FITS21 passed by the House of Representatives, Congress banned the Fed from issuing central bank digital currency (CBDC)
The significance is extremely far-reaching
It can even be said that the significance of the latter two bills is more far-reaching than the simple approval of ETH ETF
After all, ETH ETF is just a matter of time
FITS21 regulates the coin issuance process and requirements of all projects. With the process, there are ways to comply with or circumvent the process. The season for altcoin issuance is coming. The season for altcoin innovation is coming. The season for web3 innovation is coming.
Congress banned the Fed from issuing CBDC. The original intention of Congress was undoubtedly out of concern about the Fed's excessive issuance, but the role it played was to force the US dollar to embrace web3 with the existing more decentralized channels and existing issuance mechanisms.
This will enhance the ability of web3 issuance channels, empower web3 in disguise, balance decentralized and centralized finance, and also make the US dollar more decentralized.
Only a more decentralized US dollar is a stronger US dollar.
Finally, I would like to say that the government is limiting its own capabilities, and limiting its most important capabilities. This can only happen in a country with a power constraint mechanism.
