Bitcoin to Benefit Immensely from Trump’s Big Beautiful Bill: White House Advisor

US Presidential advisor Bo Hines has tweeted that the crypto economy, especially Bitcoin, is set to benefit immensely from Trump’s recently signed “Big, Beautiful Bill”. The US House of Representatives passed the bill symbolically on the 4th of July, following an earlier nod by the Senate. Initially, there was significant opposition to the bill, including some staunch resistance within the President’s Republican party; however, it may be precisely what crypto users need in times of regulatory uncertainty.

What is Trump’s Big Beautiful Bill?

The main focus of the major legislation is on three of Trump’s key policy positions: tax cuts for companies, reduced regulations, and enhanced border control. While these three issues received major mention in the bill, some crypto-friendly Acts managed to pass through as part of the package, with strong bipartisan support. This level of cross-aisle support demonstrates just how popular cryptocurrency is among the American public. 

They include the Genius Act and the Clarity Act, both of which address the regulatory climate of the USA. The Genius Act sets clear rules regarding the circulation of stablecoins in the country while being open to innovative ideas coming from the sector, Hines stated.

The Clarity Act, on the other hand, aims to address the major legal conundrum faced by cryptocurrencies, not just in the USA but worldwide. According to the White House advisor, this legislation draws a clear line between a digital commodity and a digital security, paving the way for crypto innovation without legal complications in the USA. 

Hines further states that the “Big, Beautiful Bill” will make the country a global leader in crypto innovation and adoption. He gave the President high praise and noted that it was a significant milestone for the country.

Will Trump’s Bill Kickstart a New Crypto Revolution in the USA?

Pro-crypto legislation and crypto-friendly policies were a major part of Donald Trump’s 2024 presidential campaign. It was in complete contrast to his opponent Kamala Harris, who failed to capitalize on the pro-crypto entirely. 

The Clarity Act and the Genius Act are likely to significantly support the cause of digital currencies in the country if implemented in full spirit. Trump is likely to claim that a significant portion of his promise to implement crypto reforms has been fulfilled. 

However, hawkish federal agencies like the Securities and Exchange Commission (SEC) and the FBI will need to be on board for this crypto regulation to succeed. The latter has historically treated digital currencies like a tool used by criminals, so that a complete rewiring may be on the cards in the coming days, especially under Trump’s FBI chairman, Kash Patel.