A Bitcoin price drop below $102,000 could be followed by a swift 25% rally to new all-time highs. Key takeaways: Bitcoin dropped $103,500 as traders cut risk ahead of tomorrow’s FOMC decision. Technical data points to a Bitcoin price bounce between $102,000 and $104,000. Read more
The bill passed without amendments to address Donald Trump’s connections to World Liberty Financial’s stablecoin, which many Democrats had been calling for. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to pass an amended version of the bill. In a Tuesday vote of 68-30, a majority of the US Senate chose to pass the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The bill’s companion, the STABLE Act, may be considered in the House of Representatives next, where it could face additional proposals for amendments. “With this bill, the United States is one step closer to becoming the global leader in crypto,” said Hagerty from the Senate floor before the Tuesday vote, adding: “Once the GENIUS Act is law, businesses of all sizes, and Americans across the country will be able to settle payments nearly instantaneously rather than waiting for days or sometimes even ...
The Tuesday notices will push the SEC's deadline to approve or disapprove of the ETFs to late July, though it could be delayed further at that time. The US Securities and Exchange Commission (SEC) has opened public comments for two proposed cryptocurrency exchange-traded funds, or ETFs, from asset manager Franklin Templeton to be listed on the Chicago Board Options BZX Exchange. In separate filings on Tuesday, the SEC said it was instituting proceedings that could allow the US exchange to list and trade shares of the Franklin XRP ETF and Franklin Solana ETF. The Cboe BZX Exchange filed for a proposed rule change with the SEC in March to allow for approval of the investment vehicle, which the regulator delayed in April, pushing its deadline for a decision until Tuesday. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,” said the SEC in both filings. “Rather, the Commission seeks and encourages interested persons to provide ...