The President does have the means.
After the longest vote in history yesterday (8 hours of voting! Is Trump learning from Yuan Shikai?), the members of the House of Representatives were much more obedient today, and all three major crypto bills were successfully passed!
The ups and downs of the crypto week, under the unfavorable start, ended one day in advance~
The specific passage is as follows:
GENIUS Act(Stablecoin Act): House vote (308-122), because it has been voted by the senators before, it has been sent to President Trump for signature and is expected to take effect soon.
CLARITY Act(Clarity Market Act for Digital Assets): Passed the House of Representatives (294-134), and will be voted on in the Senate next.
Anti-CBDC Act: Passed the House of Representatives (219-210), and will be voted on in the Senate next.
From the voting results, it can be seen that the Stablecoin Act and the Digital Asset Clarity Act, which are of real concern to crypto users, were both passed with high votes.
The reason why the motion was rejected before was because of the anti-CBDC bill. The vote in the House of Representatives this time was also opposed by the entire Democratic Party.
CBDC is the digital dollar launched by the US Central Bank. Once this bill comes into effect, the previous efforts of the Democratic Party to promote CBDC in order to monitor the income and expenditure data of ordinary people in the United States will be completely wasted~
The biggest beneficiaries of the anti-CBDC bill are various stablecoin issuers including the Trump family.
Soon after the three bills were passed, a piece of explosive news that was unfavorable to the Federal Reserve came out almost at the same time:
Republican Congresswoman Luna of Florida said that she had transferred the "criminal investigation" of Powell to the Department of Justice, accusing him of "perjury" in the $2.5 billion renovation project of the Federal Reserve's Washington headquarters. (A global release caused by a renovation)
She claimed that Powell's description of the project at the congressional hearing in June was untrue, and the project was overspent by about $700 million, involving so-called "luxury" facilities (such as roof gardens, VIP elevators, etc.).
Considering that Trump even besieged Congress and forced voting for 8 hours, it seems completely logical to force Powell to resign through criminal charges.
Ripple announced yesterday (12th) the upcoming launch of the XRPL EVM Sidechain, using Axelar as the sole bridge for the sidechain. Additionally, they introduced a new stablecoin, RLUSD.
MiyukiKMT legislator Wang Hongwei raised concerns during a Legislative Yuan session about the Ministry of Justice's cooperation with Binance, the world's largest cryptocurrency exchange. She accused Binance of being notorious for money laundering and international crime, calling for an end to the partnership. In response, Binance emphasized that it has never been penalized for fraud and actively collaborates with global law enforcement agencies.
WeiliangTerraform Labs has agreed to a $4.47 billion settlement with the SEC. However, the funds will go to the SEC, not the affected individuals, sparking public outcry from the crypto community and industry leaders.
KikyoTapSwap, a popular crypto mining game on Telegram, faces credibility concerns due to abrupt changes like removing Solana branding and introducing questionable tasks redirecting to unrelated Telegram channels. These issues, combined with technical glitches and unclear blockchain plans, have sparked skepticism about TapSwap's legitimacy among users and analysts alike.
AnaisThe UK’s NHS Chief is urging lawmakers to act against rising crypto trading addiction among young people, responding to an increase in those seeking help for addiction to the volatile digital currency market.
CatherinePresident Biden's campaign is exploring crypto donations via Coinbase Commerce, aiming to engage tech-savvy voters amid criticisms of inconsistency in his crypto stance. This move contrasts with past regulatory actions and signals a strategic shift ahead of a competitive election.
JoyMicroStrategy, a major Bitcoin holder among publicly traded companies in the U.S., announced yesterday (13th) its plan to issue $500 million worth of convertible senior notes to qualified institutional investors and use the proceeds to buy more Bitcoin. However, the stock price fell instead of rising.
AlexMarket sources reveal that Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), expects the S-1 registration statement for the Ethereum spot ETF to be approved sometime this summer.
MiyukiThe decision by Saudi Arabia to end the petrodollar agreement marks a significant shift away from the US dollar's long-standing dominance in global trade, potentially paving the way for alternative currencies like the BRICS stablecoin to reshape international finance.
AnaisThe financial world faces potential upheaval as Saudi Arabia ends its 50-year petrodollar deal with the US. Instead, Saudi Arabia's central bank has joined BIS’s CBDC Project mBridge. As power becomes more equitably distributed globally, is the US facing an imminent economic downfall?
Catherine