The genius law, the Stablecoin Bill, which everyone believed would reduce the coding rules, stumbled severely in the US Senate. However, Brian Armstrong, CEO of Coinbase, sees great progress in the legislation of US encryption this week and expects more after that.
The digital asset market has printed huge green indexes over the past 24 hours, as the largest altcoin, ethereum led the road by 22 %. The cumulative curtain market ceiling jumped by more than 5 % over the past day, standing at $ 3.25 trillion. The trading volume increased 24 hours by 72 % to 190 billion dollars with the market’s feelings entering the “greed” area.
Act Act is a genius approaching the floor vote?
Brian Armstrong in X Publication highlighted that progress has been made in the draft of the market structure, and is being discussed. He added that partisan work continues to bring Stablecoin legislation to the ground and suggested that there may be a vote again early next week.
He stated that standing with Crypto Day occurs on May 14, where more than 60 founders of encryption will meet in Washington, DC to make their voices to support encryption legislation.
Coinbase CEO I mentioned It is good to see the Senate voting on Stablecoin. This was the first round of negotiation and believed that the draft law still needs some business, such as reforming the ban on return and interest. The genius law is expected to be one step from the president’s office with a strong vote from the two parties.
Although the heavy encryption industry is flowing on $ 119 million in last year’s elections to support pro -captain candidates and Stablecoin, which is launched as a non -male partial party, the Senate was able to close the brakes.
The Senate prevents the Boom Trump Crypto Empire Bill after Boom Trump Crypto Empire
49 Senate members voted only to move the genius law forward, which is much lower than 60 wanted. A shock came when Republican members of the Republican Party, Josh Holie and Rand Paul, crossed partisan lines to prevent them with the Democrats. Senator Mark Warner, who originally supported the bill, withdrew the plot, saying that the text was not completely ended.
After Trump World Liberty Financial, USD1 will be a large tool used in Abu Dhabi’s investment of two billion dollars in Binance, where Democrats in the Senate arrived at the panic button. Suddenly, talk about foreign funds and anti -laundering gaps occupied the lead. Democrats in the Republican Senate have accused the formula of tougher guarantees on the backed Stablecoins from abroad. However, the bill momentum collapsed.
Trump has supported Stablecoin, USD1, hits the highway. The market value of Stable Liberty Financial has grown from Trump from $ 130 million to more than two billion dollars since the end of April. USD1 already stands tall in the tablecoins toll. Recently, it surpassed the first USD digital (FDUSD) and Paypal usd (Pyusd) to become the seventh largest stablecoin.
On the other hand, the official Mimi coin (Trump) has increased by more than 15 % in the past 24 hours and 85 % in the past thirty days. Trump is traded at an average price of $ 14.24 at the time of the press. Trading volume over 24 hours increases by 144 % of $ 2.39 billion. Meanwhile, about 80 % of the Trump Tokeen supplies are controlled by Trump and subsidiary companies.
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