“Congress has the power to slam the brakes on this unwise conflict,” said bill sponsor and Democratic Senator Tim Kaine. The United States Senate has voted to advance a resolution that could force US President Donald Trump to seek congressional authorization to continue the country's war with Iran. The vote on a procedural war-powers measure on Tuesday passed by 50 to 47, with four Republicans also voting in favor, according to Reuters. Policymakers have been arguing that Congress, not the president, should have the power to send troops to war, as spelled out in the US Constitution. Read more
Bitcoin analysis says BTC price could revisit the $65,000 demand area after fresh US-Iran war tensions soured the crypto market mood. Bitcoin (BTC) dropped to $76,000 during the early Asian trading hours on Monday as US-Iran tensions resurfaced. Key takeaways Data from TradingView showed BTC price dropped as much as 7% over the last three days to three-week lows of $76,500, erasing all the gains made since May 1. Read more
The US Commodity Futures Trading Commission is currently headed by Chair Michael Selig, with no public statement from Donald Trump about fully staffing the five-member panel of commissioners. The Republican chair and Democratic ranking member of the US House of Representatives Committee on Agriculture have called on President Donald Trump to fully staff the leadership at a key financial regulator, citing the potential impact of a crypto market structure bill. In a Friday letter to Trump, House Agriculture Committee Chair Glenn Thompson and ranking member Angie Craig asked the president to “nominate a full panel” of bipartisan leaders for the US Commodity Futures Trading Commission (CFTC). The representatives cited “urgent regulatory issues” facing the US regulator in addition to a “significant rulemaking process” required if the Digital Asset Market Clarity Act (CLARITY) becomes law. “Ensuring the Commission is well-equipped as the leading derivatives markets regulator in the world is a bipartisan priority fo...
One of the developers behind the crypto-mixing protocol Samourai Wallet has publicly expressed hopes for a pardon, along with FTX founder Sam Bankman-Fried. US President Donald Trump is reportedly considering pardoning 250 people to commemorate the country's 250th birthday on July 4, according to The Wall Street Journal. An official announcement could come on June 14, Trump's birthday, or during the Independence Day event on July 4, the WSJ reported Thursday, citing people familiar with the matter. However, the pardons are still in the preliminary stages and have yet to be confirmed. More than 16,000 formal requests for presidential pardons were submitted last year. Read more