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Sardor

@sardorx

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The U.S. Senate voted to advance the GENIUS stablecoin bill 🇺🇸 📊 68 “for” — 30 “against” The U.S. Senate approved the cloture procedure for the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), meaning the final vote will take place on Monday unless an expedited agreement is reached between parties. 📌 What the GENIUS Act entails: — 💵 All stablecoins must be fully backed by the U.S. dollar or other liquid assets — 📈 Issuers with a market capitalization exceeding $50 billion must undergo an annual audit — 🌍 Provisions are introduced for foreign issuers (e.g., Tether) ✅ President Trump, through his advisors, has already expressed readiness to sign the bill before August. 📍 If GENIUS passes the Senate, it will need to be reconciled with an alternative bill from the House of Representatives, where there are differences regarding federal and regional regulation. $USDT $USDC $FDUSD $EURC $USDE #Tether
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📢 The U.S. Senate is considering Brian Quintenz for the role of CFTC Chairman — a key step toward transferring crypto regulation to the agency! 🇺🇸 📍 During the confirmation hearings for Brian Quintenz as CFTC Chairman, he: 🔹 Emphasized that if crypto oversight is transferred to the CFTC, the agency could take a leading role in a “tech-first” approach to crypto regulation 🔹 Noted that he has a strict ethics agreement, including divestitures and internal screening, to avoid conflicts of interest (given his work with a16z and Kalshi) 🔹 Assured Senator Hyde-Smith that traditional futures markets would not be harmed, even if the agency takes on crypto responsibilities 🔹 Publicly revealed for the first time that he was debanked by UBS in 2023, as reported by CoachForGov during the hearing 🧠 Quintenz’s appointment could be a turning point: he proposes transforming the CFTC into a crypto-tech regulator while preserving its traditional functions.
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Blockchain ensures digital property. Why @balajis.eth is ultra-bullish on crypto Balaji Srinivasan: «With social media, we’re still in the kind of communist era of social media. Where whatever you earn on social media, like Google takes its cut, Twitter 100, you’re nothing for all your tweets or anything like that. You might get a little revenue share on TikTok or YouTube, you can do okay, right? But not only you earn either nothing or a little bit, you have no digital property rights, even more fundamentally. You are at the just whim of a giant corporation can hit a button and everything you work for over years gone. Okay, that is even if that is quote the current state of events the State of Affairs, rather that is not the right balance of power to be able to unperson somebody at the touch of a key and take away everything in their digital world.
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