Crypto Week in the US ends with some victories for the crypto lobby, with the GENIUS Act headed to Trump’s desk.
The lack of yield-bearing options for US-regulated stablecoins under the GENIUS bill will drive investors to search for interest elsewhere, analysts said.
Several C-suite executives from cryptocurrency companies attended the Friday event, some of whom directly contributed to Trump’s 2024 campaign.
The Senate Agriculture Committee will hear from prospective CFTC chair Brian Quintenz, who could be the sole commissioner at the US regulator by the end of 2025.
Bitcoin adoption has been soaring, leading up to the optimistic regulatory expectations related to “Crypto Week” in Washington.
Representatives from Circle, Ripple, Chainlink, Multicoin Capital and Anchorage Digital confirmed they would be at the White House to mark the passing of the GENIUS Act.
SEC Chair Paul Atkins signaled openness to including cryptocurrencies in 401(k) retirement plans, stressing the importance of investor education.
Crypto industry hails GENIUS Act as a win, while Senator Elizabeth Warren criticizes it for consumer protection gaps.
An OG Bitcoin whale’s $9.6 billion transfer and the stablecoin audit requirements imposed by the GENIUS Act are sparking correction concerns among some industry watchers.
Republicans and Democrats tussled over the Trump family’s crypto ties, consumer protections, and backing stablecoins with fiat assets.