U.S. Presidential candidate Donald Trump wants the future of Bitcoin to be red, white and blue.
United States President Donald Trump says he wants all future Bitcoin to be mined in the U.S. after meeting with key industry figures.
On June 12, Trump met with Riot Platforms CEO Jason Les and its head of public policy, Brian Morgenstern.
Afterward, Trump took to Truth Social to voice his support for domestic mining firms:
Stronger-than-expected employment data could put more downward pressure on Bitcoin price. Are ETF inflows enough to get a weekly BTC close above $70,000?
Bitcoin price could be pressured by the accelerating labor market in the world’s largest economy, the United States.
The nonfarm payrolls report, published on June 7, measures the change in the number of people employed during the previous month, excluding the farming industry.
With nonfarm payrolls exceeding expectations, investors could become concerned with more monetary policy tightening.
Secretary of the Treasury Janet Yellen says AI will only become more important in the years to come.
The United States Treasury is preparing for a whipsaw of risk and opportunity from the artificial intelligence (AI) sector in the years to come.
This was the theme as U.S. Treasury Secretary Janet Yellen gave the keynote speech at the Conference on artificial intelligence and financial stability. The event was hosted by the U.S. Financial Stability Oversight Council (FSOC) in partnership with the Brookings Institution on June 6-7.
According to FSOC, this is the first time in a decade that the council has hosted an event of this nature.
The Stand With Crypto political action committee claims that nearly nine in 10 Americans believe the financial system needs an overhaul.
The Stand with Crypto Alliance political action committee (PAC), launched by Coinbase in 2023, recently announced that over 1 million Americans have signed on as advocates to make their voices heard in Washington, D.C.
According to the pro-crypto PAC, 52 million Americans hold some form of cryptocurrency, and 87% of Americans surveyed believe the current financial system needs an overhaul. Stand with Crypto also claimed that 45% of respondents would not vote for an anti-crypto candidate.
Related: US House approves FIT21 crypto bill with bipartisan support.
Summer Mersinger anticipates extensive coordination and potential delays in the implementation of FIT21 across U.S. regulatory agencies if it is enacted.
Implementing the Financial Innovation and Technology for the 21st Century Act (FIT21) could be a lengthy process, potentially requiring months or even years of coordination between United States regulators before rules go into effect.
Summer Mersinger, Commissioner of the Commodity Futures Trading Commission (CFTC), made the prediction during a panel at the 2024 Consensus event. Mersinger sees a slow regulatory process for the bill if it becomes law.
“If you think legislation takes a long time, rulemaking takes a long time, too. And some of the Dodd-Frank rules we’re not even done,” said Mersinger, adding that the process’ length would depend on how Congress passes the legislation. She continued:
The government department outlined potential concerns with the NFT market, including terrorist financing, theft, and funding nuclear proliferation.
The United States Treasury Department has released its first-ever finance risk assessment for nonfungible tokens (NFTs) in an attempt to provide regulators with greater insight into potential risks and security concerns facing the rapidly evolving market.
Several potential risks were identified including the potential for terrorists to finance operations through NFTs, state actors using NFTs to fund nuclear proliferation, money laundering, and the potential risks to investors who may experience theft, rug-pulls, or other forms of fraud that have become well-known.
The report repeatedly reiterated that the vast majority of these illicit activities occur through fiat financing and transactions, and are not unique to the digital asset space.
The U.S. Securities and Exchange Commission gave the green light to several spot Ether ETFs after speculation that the regulator was considering treating ETH as a security.
In a second landmark decision this year, the United States Securities and Exchange Commission has given the regulatory green light to spot Ether exchange-traded funds (ETFs) in the United States.
Ina May 23 filing, the SEC approved the 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise — approving the rule changes allowing spot Ether ETFs to be listed and traded on their respective exchanges. The landmark decision came despite speculation that the securities regulator has been investigating whether to label Ether (ETH) as a security.
While the 19b-4s have been approved, ETF issuers still need the SEC to sign off on their respective S-1 registration statements for the spot Ether ETFs to officially begin trading. Industry analysts say this could take days, weeks or even months. The SEC reportedly instructed applicants to accelerate their 19b-4 filings on May 20. The removal of staking is the most notable amendment seen across several filings.
Records show Sam Bankman-Fried was in the Federal Transfer Center in Oklahoma City, suggesting authorities may still transfer him to a prison in California.
Former FTX CEO Sam “SBF” Bankman-Fried is no longer incarcerated in New York or California, where his parents own a home — according to prison records, he’s in Oklahoma.
As of May 23, inmate records for the Federal Bureau of Prisons showed that Bankman-Fried was being held at the Federal Transfer Center in Oklahoma City. According to the Office of the Inspector General for the U.S. Department of Justice, the facility confines inmates on a “short-term basis” for transfers within the prison system.
SBF’s relocation to Oklahoma, coupled with reports from May 22, suggested that authorities may transfer the former FTX CEO from the Metropolitan Detention Center (MDC) in Brooklyn to the Federal Correctional Institution (FCI) in Mendota. The transfer appeared to have happened despite Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York recommending SBF stay at MDC Brooklyn.
Just 1% of United States adults reported using crypto for payment or to send money in 2023.
The number of United States adults reporting crypto ownership or usage dropped to around 18 million in 2023, according to the latest annual household survey from the Federal Reserve.
In the 12 months to October 2023, 7% of surveyed U.S. adults reported using crypto — down from 10% in 2022 and 12% in 2021, according to the Fed’s Survey of Household Economics and Decisionmaking (SHED) published on May 21.
Just 1% of adults said they use crypto as a payment method or to send money, down half from 2022, while 7% purchased or held crypto as an investment.
Democratic and Republican lawmakers in the U.S. House of Representatives voted to pass the Financial Innovation and Technology for the 21st Century Act.
A majority of United States House of Representatives members voted in favor of legislation to establish regulatory clarity over digital assets.
In a 279 to 136 vote on May 22, House lawmakers approved H.R.4763, or the Financial Innovation and Technology for the 21st Century (FIT21) Act. If passed by the Senate and signed into law, the bill clarifies the roles the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have over digital assets. 71 Democrats joined with 208 Republicans to vote in favor of the bill.
“Unfortunately, our current regulatory framework is preventing digital assets’ innovation from reaching its full potential,” said Representative Patrick McHenry before the House vote. “The SEC and the CFTC are currently in a food fight for control of these asset classes.”
