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Watcher.,Guru

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Watcher.,Guru

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  • President Trump says he will not "fire" Fed Chair Jerome Powell.
  • President Trump says he will not "fire" Fed Chair Jerome Powell.
  • US Senate Votes to Advance “Genius Act” Crypto Stablecoin Bill Federal Reserve Says Stablecoins Could Become a Source of Financial Instability The US Senate has voted to advance a crypto stablecoin bill known as the “Genius Act.” The legislation is already backed by the crypto industry and President Donald Trump. According to a Bloomberg report, final passage of the measure may likely come next week. The new bill aims to set rules for crypto tokens pegged to the value of the US dollar or another traditional currency. The legislation would help turn stablecoins into a mainstream form of payment for millions of users. An acronym for Guiding and Establishing National Innovation For US Stablecoins for 2025, the act prioritizes the usage of stablecoins and their integration into official government ordeals. “Stablecoin issuers under the GENIUS Act will be expected to meet rigorous operational standards, including maintaining sufficient capital and liquidity buffers, implementing robust risk management systems, and complying fully with the Bank Secrecy Act (BSA), including anti-money laundering (AML) and sanctions obligations.” As stated by Pyments. Also Read: Grok Predicts What Genius Act Means For The Cryptocurrency Market Senate Banking Chair Tim Scott has told Bloomberg he expects to hold a hearing on a broad crypto regulation bill in July but does not anticipate passing it in the Senate until the fall. Meanwhile, Senate Majority Leader John Thune on the Senate floor Wednesday set a goal of passing the stablecoin bill within days and said he hoped the House would quickly send it to Trump’s desk. The crypto stablecoin bill proposal hasn’t been met with full appreciation, however. Banks, especially smaller ones, have warned about a potential drain on deposits and, consequently, access to credit. Larger banks are considering issuing their own stablecoins, which generate profits from interest on the reserves.
  • JUST IN: Michael Saylor says "Apple should buy Bitcoin."
  • JUST IN: Michael Saylor says "Apple should buy Bitcoin."
  • JUST IN: Michael Saylor says "Apple should buy Bitcoin."
  • JUST IN: Bitcoin reclaims $106,000.
  • JUST IN: Bitcoin reclaims $106,000.
  • President Trump says Elon Musk will face "very serious consequences" if he funds Democrats.
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