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17 July | Bitcoin | Ethereum

Trump's ‘crypto week’ advances stablecoin regulation — Bloomberg

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ETHUSD
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Trump's ‘crypto week’ advances stablecoin regulation — Bloomberg

Bloomberg reports that President Donald Trump's announced "crypto week" featured the longest procedural vote in US House of Representatives history. The initiative, supporting cryptocurrency development, includes advancing a stablecoin bill that would establish federal oversight of dollar-pegged digital currencies.

The legislation requires issuers to maintain dollar reserves in short-term government debt or equivalent assets. Having already passed the Senate last month, the bill now awaits House approval before potentially reaching Trump's desk for signature.

This development could mark a major regulatory breakthrough for cryptocurrencies, according to Bloomberg. The increased clarity may pave the way for the House to consider broader digital asset market structure rules in future sessions.

Elena Berseneva MarketCheese

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