Latest News and Articles about U.S. Senate
Senate Rejects Stablecoin Bill Amid Partisan Clash and Trump Concerns
Senate Clash Stalls Stablecoin Legislation Progress The U.S. Senate’s effort to establish a regulatory framework for stablecoins, digital currencies designed to have a stable value, faltered due to partisan tensions and concerns over former President Donald Trump’s crypto involvement. The Genius Act, which aimed to address the unclear legal status of the $246 billion stablecoin […]
Read MoreU.S. Senate Rejects GENIUS Act: Crypto Regulation Stalls, Stablecoins in Limbo
U.S. Senate Rejects GENIUS Act: Impact on Cryptocurrency Regulation and Stablecoins In a tense 48-49 vote, the U.S. Senate has thrown a wrench into the cryptocurrency industry’s plans by rejecting the Guiding Equitable and Novel Innovations in Stablecoins Act (GENIUS Act). This bill, designed to regulate stablecoins—a type of cryptocurrency designed to minimize the volatility […]
Read MoreU.S. Senate Votes 70-28 to Repeal IRS DeFi Broker Rule, Awaiting Trump’s Approval
U.S. Senate Votes to Repeal Controversial IRS DeFi Broker Rule The U.S. Senate has decisively voted 70-28 to overturn a contentious IRS rule that would have imposed strict tax reporting requirements on decentralized finance (DeFi) platforms. This significant move, which followed a similar resolution from the House of Representatives, awaits President Donald Trump’s expected approval. […]
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