New crypto bill could turbocharge stablecoin industry
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Bitcoin ( BTC 4.39%) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%.
Maxine Waters’ “Stop TRUMP in Crypto Act” would prevent Trump and his immediate family from profiting off crypto while he's in office.
The U.S. House of Representatives voted 215-214 to pass President Donald Trump's "big, beautiful bill" that deals with taxes and expenditure on May 22. It can be argued that the bill, if voted into law,
The vote on the GENIUS Act, which would set up a regulatory framework for stablecoins, came two weeks after Senate Democrats blocked the measure.
The GENIUS Act concerns the issuance and exchange of stablecoins, a form of digital currency backed by another form of currency like the U.S. dollar or a commodity like gold.
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Democrats are increasingly zeroing in on the Trump's private crypto dealings as a means to critique his second term.
The Genius Act broke through opposition from Democrats in the Senate on Monday evening, moving the key piece of stablecoin legislation forward.
The GENIUS bill is focused on "stablecoin" regulation, but some warn it may help Trump and his family profit from their crypto ventures.
The Senate took a key procedural vote Monday evening on a first-of-its-kind crypto regulation bill after Democrats tanked it earlier this month.
4hon MSN
WASHINGTON (AP) — It seems like a triumph for a cryptocurrency industry that has long sought mainstream acceptance: Top investors in one of President Donald Trump ’s crypto projects invited to dine with him at his luxury golf club in Northern Virginia on the heels of the Senate advancing key pro-crypto legislation and while bitcoin prices soar.