Trump, GENIUS Act and cryptocurrency
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The industry’s courtship of Donald J. Trump resulted in one of the great lobbying free-for-alls in recent Washington history.
Holders of the digital tokens issued by World Liberty Financial, one of the crypto ventures of the family of Donald Trump, voted on Wednesday to make them tradeable, paving the way for their wide sale and purchase -- potentially boosting the value of the president's holdings of them.
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AfroTech on MSNWhy Trump’s Push For Crypto Bills Is Hitting Roadblocks In The HousePresident Donald Trump is going all in on key crypto bills. His goal: to pass the first major cryptocurrency regulations in U.S. history and establish the country as the global leader in crypto. But political infighting and ethical concerns are slowing momentum.
The House is set to vote on a series of high-stakes bills backed by the cryptocurrency industry, after top Republicans brokered a deal with a group of dissenters in their ranks.
Of all the riddles wrapped in the digital wallets sending funds to President Donald Trump’s World Liberty Financial crypto business, a little-known entity last month became the biggest.
On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.
Watchdogs and critics are raising alarms about conflicts of interest. Trump’s public enthusiasm for digital currencies is a business strategy. His administration’s aggressive deregulation benefits WLF and others like it, insulating them from scrutiny while they expand their financial reach.
Trump’s support for the GENIUS Act and other “Crypto Week” bills sparks BTC and crypto‑stock rally. Could this spur Bitcoin's potential move to $150K?
House passage of the Senate’s GENIUS Act, which would stand up a U.S. regulatory framework for cryptocurrencies pegged to the value of the dollar, would deliver major crypto legislation to the Oval Office for the first time ever.
Eric Tung, Donald Trump’s nominee to sit on the Ninth Circuit, could represent the president’s interests in court by favoring crypto deregulation, according to Accountable.US.