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The U.S. House of Representatives has blocked three key crypto bills, dealing a significant setback to the industry. The vote failed 196-223, with Republicans divided and Democrats opposing the bills.
The Bills
- GENIUS Act: Aimed to establish rules for stablecoins
- Digital Asset Market Structure Clarity Act: Sought to clarify crypto regulations
- Anti-CBDC Surveillance State Act: Aimed to block a U.S. government digital currency (CBDC)
Market Reaction
The market responded negatively, with:
- Circle's stock dropping 4%
- Coinbase falling 1.5%
- Bitcoin decreasing by 3%
Trump's Response
Former President Trump expressed his disappointment on Truth Social, calling the failed vote a "disaster." He emphasized the importance of the GENIUS Act, stating it would put America ahead in crypto innovation.
What's Next
While the vote has been delayed, talks are ongoing, and Trump plans to push for a re-vote. The crypto industry awaits clarity on regulations, and the U.S. faces a critical decision: lead or lag in the crypto space.
Outlook
This setback may be temporary, and Trump's involvement could potentially revive momentum. The crypto community is watching closely, wondering if the U.S. will seize the opportunity to shape the future of crypto.#USCryptoWeek #AltcoinSeasonLoading #BTCWhaleTracker #BTC120kVs125kToday $BTC

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