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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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US President Donald Trump on Cryptocurrency Exit! "Let it be on my desk as soon as possible!"
In the US, the crypto coin friendly stablecoin law GENIUS Act has been approved by the Senate after long efforts.
At this point, there is one final step left for US President Donald Trump to approve GENIUS, which he plans to do by August.
The GENIUS Act needs to be approved by the House of Representatives in order for it to be signed by Trump.
Now that the eyes are turned to the House of Representatives, a new statement has come from Donald Trump.
According to this, Trump, in a post on his Truth Social account, requested the House of Representatives to quickly move forward with the final signature of the GENIUS Act and called for it to be passed as soon as possible.
Trump stated that the Senate has approved an incredible bill that will make the U.S. the unquestionable leader in the field of digital assets.
Trump, who described the bill as a pure genius, stated that GENIIUS would bring significant investments and major innovations to the U.S.
The GENIUS law introduces strict requirements for stablecoin issuers, such as mandatory licensing, full reserve backing, annual audits for issuers with a market value of over 50 billion dollars, and regulatory oversight by foreign entities.
The stablecoin law passed the Senate with 68 yes votes and 30 no votes and is now awaiting a vote in the House of Representatives.
*This is not investment advice.
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