The Genius Act, the Stablecoin Bill, all of which thought crypto rules, has stumbled hard in the US Senate. However, Brian Armstrong, CEO of Coinbase, will see great progress this week in US cryptocurrency laws and hopes that more will come next.
The market for digital assets printed huge green indices over the past 24 hours, as the largest Altcoin Ethereum led the road with a 22% rise. The cumulative cryptocurrency cap jumped more than 5%in the last day to be $ 3.25 trillion. Its 24-hour trading volume increased by 72%to reach $ 190 billion when marketing lessons enter the territory of the greed.
Genius' act approaching the floor vote?
In the Brian Armstrong X post, it pointed out that it was an advancement that the Market Structure Act was introduced and discussed. He added that bilateral work would bring Stablecoin legislation to the floor and recommended voting again at the beginning of next week.
He mentioned that the crypto day stands on May 14, where more than 60 founders of crypto gather in the Washington DC to make their voice in support of cryptocurrency laws.
CEO of Coinbase mentioned That it is good to see the Senate voting over Stablecoin legislation. This was the first round of negotiations and he believes that the bill still needs a bit of work, such as fixing the ban on yields and interests. He thinks the Genius law is a step closer to the President's desk with a strong bilateral vote.
Despite the heavy weights of the crypto industry, who poured $ 119 million in last year's elections to support crypto candidates and jump stable rules as a bilateral temporary temporary, the Senate was able to hit the brakes.
Senate blocks the Stablecoin Act after Trump Crypto Empire Boom
Only 49 senators voted in favor of gene behavior, which is 60. The shocker came in when the GOP Senators Josh Hawley and Beach Paul crossed the lines of the parties to block it with Democrats. Originally supported by the bill, Senator Mark Warner pulled the plug, saying that the text was not completely ready.
After Trump's World Liberty Financial revealed the USD1, there would be a large tool used in the $ 2 billion Abu Dhabi investment in Binance, the Senate Democrats hit the panic button. Suddenly there was a center of foreign money and anti -money laundering gaps. The Senate Demss accused the Republicans in the harshest defenses for the stables supported by strangers. This collapsed.
Trump supported Stablecoin, USD1, hits the highway. The market capitalization of Trump World Liberty Financial's Stablein has increased from $ 130 million to $ 2 billion since late April. The USD1 is already standing in Stabekoin. Recently, it has passed from the first digital USD (FDUDD) and PayPal USD (PYUSD), which becomes the 7th largest stability.
On the other hand, the official Trump (Trump), his meme coin has increased by more than 15% over the last 24 hours and 85% in the last 30 days. Trump trades at an average price of $ 14.24 during the press. Its 24 -hour trading volume rises with a massive 144%, reaching $ 2.39 billion. At the same time, Trump's organization and affiliate companies control about 80% of Trump's symbolic offer.
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