Bessent Presses Congress On Crypto Rules As Senate Clock Ticks Down
A dispute over stablecoin rewards — not sweeping disagreements about crypto itself — is what’s holding up one of the most significant digital asset bills in US history. Related Reading: XRP Faces No Immediate Quantum Threat As Only 0.03% Supply Seen At Risk: Analyst Banks And Crypto Firms Clash Over Stablecoin Yields At the center of the standoff is a narrow but contentious question: should third-party firms like Coinbase be allowed to pass stablecoin yields on to their customers? Banks say no, warning it could drain deposits from traditional financial institutions. Crypto companies....
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Back in 2016 and 2017, when XRP was worth less than a penny, Ripple’s then-CTO David Schwartz laid out a rough roadmap of what the token could fetch if things went right. Related Reading: Bessent Presses Congress On Crypto Rules As Senate Clock Ticks Down Matching Bitcoin’s market share, he said, could push the price to around $2. Capturing a slice of global payments might justify $20. And if adoption grew beyond that, $120 was not out of the question. At the time, even reaching $1 seemed far-fetched. XRP has since crossed that threshold several times over. Validator Backs The....
On Thursday, Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act, a bill that would provide the crypto industry with a regulatory framework and the long-awaited clarity it needs regarding the classification of digital assets. Bessent Presses Lawmakers To Pass The CLARITY Act In remarks at the White House, Bessent emphasized that the goal of the CLARITY Act should be to bring digital assets into the US rather than letting activity remain largely offshore. He said: The most important thing we can do is to make digital assets come into the United States. Make the US the....
Small investors have all but disappeared from Bitcoin trading. Data from CryptoQuant shows crypto inflows from accounts holding less than one BTC dropped to a record low on Binance earlier this month — the weakest retail participation in nine years. Related Reading: Bessent Presses Congress On Crypto Rules As Senate Clock Ticks Down Wall Street Moves In While Main Street Sits Out The numbers tell a stark story. While everyday investors pull back, major financial institutions are quietly building their crypto positions. Morgan Stanley launched a Bitcoin ETF. Charles Schwab opened a waitlist....
Securities and Exchange Commission (SEC) Chair Paul S. Atkins on Thursday used social media to press Congress to approve the long‑awaited CLARITY Act, the bill intended to create a formal market‑structure framework for crypto in the United States. Atkins’ post on X (formerly Twitter) echoed recent comments by Treasury Secretary Scott Bessent and framed the […]
Bitcoin is on the map in Congress as this morning as Politico, a leading newspaper and website predominantly read by Capitol Hill Staff Members and Congress published an article entitled, "Congress Starts Looking Into Bitcoin." What does this mean for the Bitcoin community, Congress and the US Executive Branch? Ideally, Members of Congress and the US Senate will take a closer and more holistic look into how regulators have been handling Bitcoin and will proceed with regulations or lack thereof. While, it would be even more ideal for Bitcoin to have more time to flourish prior to catching....