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President Trump says he will not "fire" Fed Chair Jerome Powell.
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President Trump says he will not "fire" Fed Chair Jerome Powell.
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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.
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JUST IN: Michael Saylor says "Apple should buy Bitcoin."
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JUST IN: Michael Saylor says "Apple should buy Bitcoin."
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JUST IN: Michael Saylor says "Apple should buy Bitcoin."
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JUST IN: Bitcoin reclaims $106,000.
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JUST IN: Bitcoin reclaims $106,000.
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President Trump says Elon Musk will face "very serious consequences" if he funds Democrats.
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President Trump says Elon Musk will face "very serious consequences" if he funds Democrats.
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President Trump says Elon Musk will face "very serious consequences" if he funds Democrats.
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Elon Musk says President Trump "is in the Epstein files. That is the real reason they have not been made public."
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Elon Musk says President Trump "is in the Epstein files. That is the real reason they have not been made public."
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Elon Musk says President Trump "is in the Epstein files. That is the real reason they have not been made public."
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President Trump holds telephone conversation with Chinese President Xi Jinping to discuss trade.
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Treasury Secretary Bessent says US is "never going to default" on its $36 trillion debt.
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Treasury Secretary Bessent says US is "never going to default" on its $36 trillion debt.
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Price of eggs in the US has dropped 61% since President Trump took office.
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Price of eggs in the US has dropped 61% since President Trump took office.
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JUST IN: JPMorgan says Ethereum upgrades have failed to increase network activity.
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JUST IN: JPMorgan says Ethereum upgrades have failed to increase network activity.
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JUST IN: Nvidia $NVDA surpasses Microsoft $MSFT to become the world's most valuable company by market cap.
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JUST IN: Nvidia $NVDA surpasses Microsoft $MSFT to become the world's most valuable company by market cap.
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President Trump agrees to delay 50% tariffs on EU until July 9.
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President Trump agrees to delay 50% tariffs on EU until July 9.
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Trader 'James Wynn' currently holds a $1.26 billion Bitcoin long position. Liquidation price: $105,179.
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President Trump says iPhones not made in the US will face a 25% tariff.
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President Trump says iPhones not made in the US will face a 25% tariff.
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Binance Founder CZ says he feels 'sorry' for those who sold Bitcoin at $77,000.
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Binance Founder CZ says he feels 'sorry' for those who sold Bitcoin at $77,000.
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JUST IN: Michael Saylor says "get your Bitcoin before there is no Bitcoin left for you."
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JUST IN: Michael Saylor says "get your Bitcoin before there is no Bitcoin left for you."
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Binance founder CZ says "Abu Dhabi is the AI and blockchain center" of the world.
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Binance founder CZ says "Abu Dhabi is the AI and blockchain center" of the world.
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Meliuz buys $28.4 million Bitcoin, becoming Brazil's first BTC Treasury company.
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Robinhood acquires Canada's leading crypto trading platform, WonderFi.
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India offers zero tariffs on pharmaceuticals, steel, and auto parts from the US.
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Warren Buffett says it might be a good idea "to own a lot of other currencies" besides the US Dollar.
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Warren Buffett says it might be a good idea "to own a lot of other currencies" besides the US Dollar.
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Porsche says they will "definitely" raise prices if US tariffs remain in place.
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Porsche says they will "definitely" raise prices if US tariffs remain in place.
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JUST IN: Bitcoin reclaims $90,000
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JUST IN: Bitcoin reclaims $90,000
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Chinese yuan falls to lowest level in two years.
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Chinese yuan falls to lowest level in two years.
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Over $2.1 trillion wiped out from US stock market at open.
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JUST IN: $ETH falls under $1,700.
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JUST IN: $ETH falls under $1,700.
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President Trump to sign executive order to keep TikTok up and running for another 75 days while he negotiates a deal with China.
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President Trump to sign executive order to keep TikTok up and running for another 75 days while he negotiates a deal with China.
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